1834 Investment Advisors Co. Cuts Stock Holdings in Truist Financial Co. (NYSE:TFC)

by · The Cerbat Gem

1834 Investment Advisors Co. reduced its stake in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 0.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 207,698 shares of the insurance provider’s stock after selling 1,483 shares during the quarter. Truist Financial accounts for approximately 1.0% of 1834 Investment Advisors Co.’s portfolio, making the stock its 24th largest holding. 1834 Investment Advisors Co.’s holdings in Truist Financial were worth $8,883,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Capital International Investors grew its holdings in Truist Financial by 93.7% in the 1st quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after acquiring an additional 5,632,493 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Truist Financial by 1.0% during the second quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock worth $401,663,000 after purchasing an additional 103,565 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Truist Financial by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after purchasing an additional 299,196 shares during the last quarter. Truist Financial Corp increased its holdings in Truist Financial by 6.7% during the 2nd quarter. Truist Financial Corp now owns 4,931,783 shares of the insurance provider’s stock valued at $191,600,000 after purchasing an additional 311,523 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Truist Financial by 1.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,489,411 shares of the insurance provider’s stock valued at $136,018,000 after purchasing an additional 58,349 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

TFC has been the topic of several research analyst reports. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Baird R W downgraded shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Compass Point upped their price objective on shares of Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. The Goldman Sachs Group cut their target price on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Finally, Argus boosted their price target on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Truist Financial currently has an average rating of “Hold” and a consensus target price of $46.02.

Read Our Latest Stock Report on Truist Financial

Truist Financial Stock Up 0.6 %

Shares of TFC stock opened at $42.32 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. Truist Financial Co. has a one year low of $28.93 and a one year high of $45.31. The company’s 50-day moving average is $42.76 and its 200 day moving average is $40.81.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.91%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is currently -145.45%.

Truist Financial Company Profile

(Free Report)

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.

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