Truist Financial Corporation $TFC Shares Sold by NTV Asset Management LLC

NTV Asset Management LLC reduced its stake in shares of Truist Financial Corporation (NYSE:TFC) by 9.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 121,826 shares of the insurance provider’s stock after selling 12,341 shares during the period. NTV Asset Management LLC’s holdings in Truist Financial were worth $5,641,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TFC. BlackRock Inc. acquired a new position in Truist Financial in the second quarter valued at approximately $4,959,834,000. State Street Corp increased its position in shares of Truist Financial by 0.9% in the second quarter. State Street Corp now owns 58,692,619 shares of the insurance provider’s stock valued at $2,924,066,000 after buying an additional 501,026 shares in the last quarter. Bank of New York Mellon Corp raised its stake 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 worth $518,988,000 after buying an additional 789,179 shares during the period. Dimensional Fund Advisors LP raised its stake 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 worth $395,642,000 after buying an additional 164,052 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Truist Financial by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 7,853,887 shares of the insurance provider’s stock valued at $391,281,000 after buying an additional 44,215 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TFC. Morgan Stanley reissued an “equal weight” rating and issued a $54.00 price target (down from $62.00) on shares of Truist Financial in a research note on Monday, July 6th. Bank of America restated a “neutral” rating and set a $56.00 price objective (up from $54.00) on shares of Truist Financial in a research report on Wednesday, July 8th. TD Cowen assumed coverage on shares of Truist Financial in a research report on Thursday, October 8th. They set a “hold” rating and a $52.00 price objective for the company. Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Truist Financial in a research note on Wednesday, July 29th. Seven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $53.87.

Truist Financial Price Performance

Truist Financial stock opened at $48.50 on Friday. Truist Financial Corporation has a 52-week low of $43.13 and a 52-week high of $56.19. The firm has a market capitalization of $59.24 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.08 and a beta of 0.92. The company has a fifty day simple moving average of $48.68 and a 200-day simple moving average of $49.66. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.95.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data 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). Truist Financial had a net margin of 18.01% and a return on equity of 10.37%. The business had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the prior year, the company posted $1.04 EPS. The firm’s revenue was up 1.3% on a year-over-year basis. On average, equities analysts anticipate that Truist Financial Corporation will post 4.66 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. Truist Financial’s dividend payout ratio (DPR) is presently 53.61%.

Insiders Place Their Bets

In other news, CEO Michael P. Lyons purchased 21,000 shares of the stock in a transaction dated Thursday, September 17th. The shares were purchased at an average price of $48.36 per share, with a total value of $1,015,560.00. Following the transaction, the chief executive officer owned 21,000 shares in the company, valued at $1,015,560. The trade was a ? increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dontá Wilson sold 13,280 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $51.85, for a total transaction of $688,568.00. Following the transaction, the insider directly 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 SEC filing for this sale provides additional information. Insiders own 0.15% of the company’s stock.

About Truist Financial

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.