Rockefeller Capital Management L.P. Has $15.92 Million Stock Position in Truist Financial Co. (NYSE:TFC)

Rockefeller Capital Management L.P. cut its holdings in Truist Financial Co. (NYSE:TFC) by 10.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 372,141 shares of the insurance provider’s stock after selling 45,728 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Truist Financial were worth $15,916,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Valley Wealth Managers Inc. acquired a new stake in Truist Financial in the third quarter valued at about $26,000. MidAtlantic Capital Management Inc. acquired a new stake in Truist Financial in the third quarter valued at about $32,000. MFA Wealth Advisors LLC acquired a new stake in Truist Financial in the second quarter valued at about $30,000. Y.D. More Investments Ltd acquired a new stake in Truist Financial in the second quarter valued at about $31,000. Finally, Fortitude Family Office LLC boosted its stake in Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after buying an additional 678 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO William H. Rogers, Jr. purchased 34,180 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This represents a 5.20 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TFC. Compass Point raised their price objective on Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Stephens reissued an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a research note on Tuesday, September 10th. Wells Fargo & Company lifted their price target on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Citigroup lifted their price target on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $47.17.

Truist Financial Price Performance

Shares of TFC opened at $47.68 on Monday. Truist Financial Co. has a 52-week low of $31.96 and a 52-week high of $49.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The business’s 50 day moving average price is $44.23 and its two-hundred day moving average price is $41.84. The firm has a market cap of $63.30 billion, a PE ratio of -33.34, a price-to-earnings-growth ratio of 1.96 and a beta of 1.05.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08. The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. On average, equities analysts anticipate that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.36%. Truist Financial’s dividend payout ratio is -145.45%.

About Truist Financial

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.