8,525 Shares in Truist Financial Co. (NYSE:TFC) Purchased by 3Chopt Investment Partners LLC

3Chopt Investment Partners LLC bought a new stake in shares of Truist Financial Co. (NYSE:TFC) in the second quarter, Holdings Channel reports. The fund bought 8,525 shares of the insurance provider’s stock, valued at approximately $331,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Norden Group LLC acquired a new stake in Truist Financial in the 1st quarter valued at about $2,351,000. Nordea Investment Management AB increased its holdings in shares of Truist Financial by 44.4% in the first quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock valued at $105,353,000 after purchasing an additional 834,048 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in Truist Financial during the first quarter worth approximately $516,000. Morningstar Investment Management LLC purchased a new position in Truist Financial during the fourth quarter worth approximately $3,041,000. Finally, BlueChip Wealth Advisors LLC acquired a new position in Truist Financial during the fourth quarter worth $3,879,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 2.5 %

NYSE TFC opened at $41.72 on Wednesday. The stock has a market cap of $55.87 billion, a price-to-earnings ratio of -31.61, a PEG ratio of 1.95 and a beta of 1.06. The firm’s 50 day moving average price is $42.72 and its two-hundred day moving average price is $39.84. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Co. has a twelve month low of $26.57 and a twelve month high of $45.31.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.84 by $0.07. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.83 billion. During the same quarter in the prior year, the business posted $0.95 EPS. Truist Financial’s quarterly revenue was down 15.9% on a year-over-year basis. Equities analysts anticipate that Truist Financial Co. will post 3.55 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.99%. Truist Financial’s dividend payout ratio is -157.58%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TFC. Stephens reissued an “overweight” rating and issued a $50.00 price objective on shares of Truist Financial in a report on Tuesday, September 10th. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. Barclays upped their price objective on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Morgan Stanley raised their target price on Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada upped their price target on Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Truist Financial presently has a consensus rating of “Hold” and an average price target of $45.45.

Insider Transactions at Truist Financial

In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO William H. Rogers, Jr. acquired 57,300 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were bought at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the purchase, the chief executive officer now owns 569,271 shares in the company, valued at approximately $25,025,153.16. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.

Truist Financial Company Profile

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.