30,736 Shares in Truist Financial Corporation $TFC Acquired by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC acquired a new position in shares of Truist Financial Corporation (NYSE:TFC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 30,736 shares of the insurance provider’s stock, valued at approximately $1,531,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its stake in Truist Financial by 148.5% during the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after buying an additional 14,093 shares in the last quarter. Woodline Partners LP boosted its stake in shares of Truist Financial by 39.5% in the 1st quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock valued at $4,575,000 after purchasing an additional 31,454 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Truist Financial in the 2nd quarter valued at approximately $575,000. AXA S.A. grew its holdings in shares of Truist Financial by 23.1% during the 2nd quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock valued at $1,126,000 after purchasing an additional 4,921 shares during the last quarter. Finally, Main Street Financial Solutions LLC increased its position in Truist Financial by 20.1% during the 2nd quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock worth $292,000 after purchasing an additional 1,134 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Truist Financial

In other news, CEO William H. Rogers, Jr. sold 13,250 shares of the stock in a transaction on Monday, July 20th. The shares were sold at an average price of $52.36, for a total transaction of $693,770.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donta L. Wilson sold 13,280 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $51.85, for a total transaction of $688,568.00. Following the completion of the transaction, the insider owned 56,009 shares in the company, valued at approximately $2,904,066.65. The trade was a 19.17% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 30,516 shares of company stock worth $1,584,428. Company insiders own 0.15% of the company’s stock.

Truist Financial Trading Up 0.2%

Shares of TFC stock opened at $53.08 on Friday. Truist Financial Corporation has a 1-year low of $40.78 and a 1-year high of $56.19. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.73. The stock has a market cap of $64.84 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.12 and a beta of 0.89. The stock has a 50-day moving average of $51.13 and a 200-day moving average of $49.80.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.15. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.24 billion. During the same period in the previous year, the firm earned $0.91 earnings per share. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities research analysts forecast that Truist Financial Corporation will post 4.58 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, August 14th. This represents a $2.08 annualized dividend and a yield of 3.9%. Truist Financial’s dividend payout ratio (DPR) is presently 47.71%.

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Robert W. Baird increased their price target on Truist Financial from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Bank of America reissued a “neutral” rating and set a $56.00 price objective (up from $54.00) on shares of Truist Financial in a report on Wednesday, July 8th. Weiss Ratings restated a “buy (b)” rating on shares of Truist Financial in a research report on Wednesday, July 29th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Truist Financial in a report on Wednesday, July 1st. Seven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Truist Financial has an average rating of “Hold” and an average target price of $54.67.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.