Centaurus Financial Inc. Purchases 1,008 Shares of Truist Financial Co. (NYSE:TFC)

Centaurus Financial Inc. increased its position in Truist Financial Co. (NYSE:TFC – Get Rating) by 12.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,136 shares of the insurance provider’s stock after acquiring an additional 1,008 shares during the quarter. Centaurus Financial Inc.’s holdings in Truist Financial were worth $398,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Fairfield Bush & CO. bought a new position in shares of Truist Financial in the first quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. boosted its position in shares of Truist Financial by 555.8% in the third quarter. Newbridge Financial Services Group Inc. now owns 623 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 528 shares during the period. Webster Bank N. A. boosted its position in shares of Truist Financial by 88.5% in the third quarter. Webster Bank N. A. now owns 639 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 300 shares during the period. Western Pacific Wealth Management LP purchased a new stake in Truist Financial in the third quarter valued at approximately $35,000. Finally, Horizons Wealth Management purchased a new stake in Truist Financial in the second quarter valued at approximately $44,000. 72.49% of the stock is currently owned by institutional investors.

Insider Activity at Truist Financial

In related news, insider Hugh S. Cummins III sold 35,229 shares of Truist Financial stock in a transaction on Friday, January 27th. The shares were sold at an average price of $49.05, for a total value of $1,727,982.45. Following the sale, the insider now owns 307,069 shares in the company, valued at $15,061,734.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Hugh S. Cummins III sold 35,229 shares of Truist Financial stock in a transaction on Friday, January 27th. The shares were sold at an average price of $49.05, for a total value of $1,727,982.45. Following the sale, the insider now owns 307,069 shares in the company, valued at $15,061,734.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David M. Ratcliffe bought 13,125 shares of the company’s stock in a transaction dated Friday, March 10th. The shares were acquired at an average price of $38.08 per share, for a total transaction of $499,800.00. Following the acquisition, the director now owns 39,025 shares in the company, valued at approximately $1,486,072. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday. Morgan Stanley lowered their target price on shares of Truist Financial from $59.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Friday, January 20th. Jefferies Financial Group raised shares of Truist Financial from a “hold” rating to a “buy” rating in a research note on Monday, January 9th. StockNews.com started coverage on shares of Truist Financial in a research note on Thursday. They set a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods raised shares of Truist Financial from an “underperform” rating to a “market perform” rating and decreased their price target for the stock from $47.00 to $45.00 in a research note on Sunday, March 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $51.58.

Truist Financial Stock Down 7.2 %

Shares of NYSE TFC opened at $30.56 on Friday. The company has a market cap of $40.59 billion, a price-to-earnings ratio of 6.90, a PEG ratio of 1.34 and a beta of 1.10. The firm’s fifty day moving average is $45.85 and its 200 day moving average is $44.97. Truist Financial Co. has a 52 week low of $28.70 and a 52 week high of $61.10. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.80.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 6.81%. The ex-dividend date of this dividend was Thursday, February 9th. Truist Financial’s dividend payout ratio (DPR) is currently 46.95%.

About Truist Financial

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Truist Financial Corp. is a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. It operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, Insurance Holdings, and Other, Treasury & Corporate.