Truist Financial Corporation $TFC Stock Holdings Increased by New England Research & Management Inc.

New England Research & Management Inc. grew its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 37.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 44,225 shares of the insurance provider’s stock after acquiring an additional 12,150 shares during the quarter. New England Research & Management Inc.’s holdings in Truist Financial were worth $2,022,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Wealth Preservation Advisors LLC acquired a new stake in Truist Financial in the first quarter worth about $25,000. Aspect Partners LLC increased its stake in shares of Truist Financial by 71.5% during the second quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 268 shares during the period. Princeton Global Asset Management LLC bought a new position in Truist Financial during the 2nd quarter valued at $30,000. Capital A Wealth Management LLC raised its stake in shares of Truist Financial by 1,189.5% in the 2nd quarter. Capital A Wealth Management LLC now owns 735 shares of the insurance provider’s stock worth $32,000 after buying an additional 678 shares in the last quarter. Finally, Ramirez Asset Management Inc. boosted its stake in Truist Financial by 60.0% during the second quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock valued at $34,000 after buying an additional 300 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $49.79 on Tuesday. The company’s fifty day moving average is $45.21 and its two-hundred day moving average is $44.43. The company has a market cap of $63.69 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 1.08 and a beta of 0.90. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $50.43. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.20 billion. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.Truist Financial’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 earnings per share. Equities analysts expect that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, November 14th. Truist Financial’s dividend payout ratio is 55.91%.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 5,160 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $46.45, for a total value of $239,682.00. Following the completion of the sale, the director owned 10,153 shares in the company, valued at $471,606.85. This represents a 33.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on TFC. Baird R W cut shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. TD Cowen upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Tuesday, October 21st. Wall Street Zen lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Piper Sandler set a $48.00 price target on shares of Truist Financial in a research report on Monday, October 20th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.60.

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.