Continuum Advisory LLC Raises Holdings in Truist Financial Co. (NYSE:TFC)

Continuum Advisory LLC increased its position in Truist Financial Co. (NYSE:TFC) by 8.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,104 shares of the insurance provider’s stock after acquiring an additional 617 shares during the quarter. Continuum Advisory LLC’s holdings in Truist Financial were worth $375,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TFC. LRI Investments LLC raised its position in shares of Truist Financial by 79.8% in the third quarter. LRI Investments LLC now owns 5,006 shares of the insurance provider’s stock valued at $232,000 after purchasing an additional 2,222 shares during the period. Drucker Wealth 3.0 LLC grew its stake in Truist Financial by 1.7% in the 3rd quarter. Drucker Wealth 3.0 LLC now owns 73,320 shares of the insurance provider’s stock valued at $3,136,000 after buying an additional 1,208 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Truist Financial by 5.2% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 418,716 shares of the insurance provider’s stock valued at $17,908,000 after acquiring an additional 20,859 shares during the period. MML Investors Services LLC lifted its position in shares of Truist Financial by 0.3% during the third quarter. MML Investors Services LLC now owns 278,591 shares of the insurance provider’s stock worth $11,915,000 after acquiring an additional 969 shares in the last quarter. Finally, Hodges Capital Management Inc. boosted its holdings in shares of Truist Financial by 145.9% in the third quarter. Hodges Capital Management Inc. now owns 16,284 shares of the insurance provider’s stock worth $696,000 after acquiring an additional 9,661 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO William H. Rogers, Jr. purchased 34,180 shares of Truist Financial stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now owns 11,246 shares in the company, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on TFC shares. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods increased their price target on shares of 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 objective on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Wells Fargo & Company increased their target price on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Royal Bank of Canada boosted their price target on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.12.

Truist Financial Stock Down 0.7 %

Shares of NYSE:TFC opened at $46.47 on Wednesday. The stock has a market capitalization of $61.69 billion, a P/E ratio of -32.50, a price-to-earnings-growth ratio of 1.94 and a beta of 1.06. Truist Financial Co. has a 12-month low of $33.87 and a 12-month high of $49.06. The stock’s 50-day moving average price is $44.78 and its 200-day moving average price is $42.15. 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 announced its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.08. The business had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. On average, equities analysts anticipate that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.48%. Truist Financial’s dividend payout ratio is presently -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.