Truist Financial Corporation $TFC Stock Sold by Kelleher Financial Advisors

Kelleher Financial Advisors reduced its holdings in Truist Financial Corporation (NYSE:TFC) by 63.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,871 shares of the insurance provider’s stock after selling 13,476 shares during the quarter. Kelleher Financial Advisors’ holdings in Truist Financial were worth $364,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Truist Financial in the second quarter worth approximately $4,959,834,000. State Street Corp lifted its position in shares of Truist Financial by 0.9% during the 2nd quarter. State Street Corp now owns 58,692,619 shares of the insurance provider’s stock valued at $2,924,066,000 after acquiring an additional 501,026 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Truist Financial by 7.5% during the 1st quarter. Bank of New York Mellon Corp now owns 11,289,721 shares of the insurance provider’s stock valued at $518,988,000 after acquiring an additional 789,179 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Truist Financial by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,608,268 shares of the insurance provider’s stock valued at $395,642,000 after acquiring an additional 164,052 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Truist Financial by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 7,853,887 shares of the insurance provider’s stock worth $391,281,000 after acquiring an additional 44,215 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Trading Up 3.1%

NYSE TFC opened at $50.94 on Thursday. Truist Financial Corporation has a twelve month low of $43.13 and a twelve month high of $56.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $61.05 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 1.08 and a beta of 0.90. The firm’s 50 day moving average price is $48.37 and its two-hundred day moving average price is $49.50.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, October 16th. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.01). The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.35 billion. Truist Financial had a net margin of 18.01% and a return on equity of 10.37%. Truist Financial’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the firm earned $1.04 earnings per share. Equities analysts anticipate that Truist Financial Corporation will post 4.71 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, November 13th. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. Truist Financial’s dividend payout ratio (DPR) is presently 53.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on Truist Financial from $50.50 to $51.50 and gave the stock an “underweight” rating in a research report on Friday, October 30th. Evercore reiterated an “outperform” rating and issued a $55.00 price target (up from $54.00) on shares of Truist Financial in a research report on Tuesday, October 27th. HSBC assumed coverage on Truist Financial in a research note on Monday, September 28th. They issued a “buy” rating and a $61.00 price target on the stock. TD Cowen initiated coverage on Truist Financial in a report on Thursday, October 8th. They set a “hold” rating and a $52.00 price objective on the stock. Finally, Wells Fargo & Company set a $52.00 price objective on shares of Truist Financial in a research note on Thursday, October 8th. Nine research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Truist Financial presently has an average rating of “Hold” and a consensus price target of $54.73.

Insiders Place Their Bets

In other Truist Financial news, CEO Michael Lyons bought 25,000 shares of the stock in a transaction on Wednesday, October 28th. The shares were bought at an average price of $48.36 per share, with a total value of $1,209,000.00. Following the purchase, the chief executive officer directly owned 46,000 shares in the company, valued at $2,224,560. The trade was a 119.05% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.15% of the stock is currently owned by company insiders.

Truist Financial Profile

Truist Financial Corporation is a financial services company headquartered in Charlotte, North Carolina, operating through its principal subsidiary, Truist Bank. The company provides banking, lending, investment, insurance and wealth management services to consumers, small businesses, commercial clients and institutional customers.

Its offerings include checking and savings accounts, mortgages, consumer loans, credit cards, commercial and industrial lending, treasury and payment services, investment banking, brokerage, asset management and insurance products.