Truist Financial Co. (NYSE:TFC) Shares Sold by Empower Advisory Group LLC

Empower Advisory Group LLC cut its position in Truist Financial Co. (NYSE:TFC) by 34.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,849 shares of the insurance provider’s stock after selling 3,107 shares during the quarter. Empower Advisory Group LLC’s holdings in Truist Financial were worth $250,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TFC. Aptus Capital Advisors LLC lifted its position in Truist Financial by 19.7% during the 3rd quarter. Aptus Capital Advisors LLC now owns 24,582 shares of the insurance provider’s stock worth $1,051,000 after acquiring an additional 4,049 shares during the period. Commonwealth Retirement Investments LLC lifted its position in Truist Financial by 5.8% during the 3rd quarter. Commonwealth Retirement Investments LLC now owns 78,309 shares of the insurance provider’s stock worth $3,349,000 after acquiring an additional 4,300 shares during the period. Aigen Investment Management LP raised its stake in shares of Truist Financial by 43.0% during the 3rd quarter. Aigen Investment Management LP now owns 19,473 shares of the insurance provider’s stock worth $833,000 after buying an additional 5,851 shares in the last quarter. Prime Capital Investment Advisors LLC raised its stake in shares of Truist Financial by 2.7% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 10,399 shares of the insurance provider’s stock worth $445,000 after buying an additional 270 shares in the last quarter. Finally, Arcus Capital Partners LLC raised its stake in shares of Truist Financial by 3.4% during the 3rd quarter. Arcus Capital Partners LLC now owns 36,722 shares of the insurance provider’s stock worth $1,571,000 after buying an additional 1,196 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TFC has been the subject of several research reports. Argus lifted their price objective on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Citigroup cut Truist Financial from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $45.00 to $47.00 in a report on Wednesday, July 24th. Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. UBS Group boosted their price target on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Bank of America boosted their price target on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $46.37.

Truist Financial Stock Up 0.6 %

NYSE:TFC opened at $46.54 on Friday. The firm has a market capitalization of $61.78 billion, a PE ratio of -32.41, a price-to-earnings-growth ratio of 1.91 and a beta of 1.05. The stock has a 50 day moving average of $43.09 and a 200-day moving average of $41.16. Truist Financial Co. has a 52 week low of $31.13 and a 52 week high of $47.57. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last posted its earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08. The company had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. Analysts predict that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is -145.45%.

Truist Financial Profile

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.