Private Advisor Group LLC Purchases 4,718 Shares of Truist Financial Co. (NYSE:TFC)

Private Advisor Group LLC boosted its holdings in shares of Truist Financial Co. (NYSE:TFCFree Report) by 6.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,474 shares of the insurance provider’s stock after acquiring an additional 4,718 shares during the period. Private Advisor Group LLC’s holdings in Truist Financial were worth $3,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crewe Advisors LLC bought a new position in shares of Truist Financial during the first quarter valued at approximately $27,000. MFA Wealth Advisors LLC bought a new stake in Truist Financial during the 2nd quarter valued at $30,000. Y.D. More Investments Ltd purchased a new position in shares of Truist Financial in the 2nd quarter valued at $31,000. Hobbs Group Advisors LLC bought a new position in shares of Truist Financial in the 2nd quarter worth $38,000. Finally, Beacon Capital Management LLC lifted its stake in shares of Truist Financial by 57.4% during the 1st quarter. Beacon Capital Management LLC now owns 1,015 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 370 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Down 1.8 %

NYSE:TFC opened at $42.63 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The company’s fifty day moving average price is $42.79 and its 200-day moving average price is $40.49. Truist Financial Co. has a 1-year low of $27.38 and a 1-year high of $45.31. The firm has a market capitalization of $57.04 billion, a P/E ratio of -32.30, a PEG ratio of 1.84 and a beta of 1.05.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.88%. Truist Financial’s payout ratio is currently -157.58%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Baird R W downgraded shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Barclays increased their target price on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Stephens reaffirmed an “overweight” rating and issued a $50.00 price target on shares of Truist Financial in a report on Tuesday, September 10th. Compass Point increased their price objective on Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. Finally, Royal Bank of Canada upped their target price on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $46.02.

Read Our Latest Research Report on TFC

Truist Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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