Nicolet Advisory Services LLC Sells 340 Shares of Truist Financial Co. (NYSE:TFC)

Nicolet Advisory Services LLC decreased its stake in shares of Truist Financial Co. (NYSE:TFC) by 1.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,473 shares of the insurance provider’s stock after selling 340 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Truist Financial were worth $725,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. M&G Plc bought a new position in Truist Financial in the 2nd quarter worth about $2,804,000. Dimensional Fund Advisors LP grew its holdings in shares of Truist Financial by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock valued at $346,957,000 after buying an additional 299,196 shares during the last quarter. Boston Common Asset Management LLC increased its position in shares of Truist Financial by 66.4% during the third quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock valued at $6,609,000 after acquiring an additional 61,683 shares in the last quarter. PGGM Investments purchased a new position in Truist Financial in the 1st quarter worth approximately $611,000. Finally, Concord Asset Management LLC VA lifted its position in Truist Financial by 523.4% in the 3rd quarter. Concord Asset Management LLC VA now owns 65,686 shares of the insurance provider’s stock valued at $2,809,000 after acquiring an additional 55,149 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of research analyst reports. UBS Group lifted their target price on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Stephens reissued an “overweight” rating and issued a $50.00 target price on shares of Truist Financial in a research report on Tuesday, September 10th. Compass Point raised their price target on shares of Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Hold” and an average price target of $46.37.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $47.96 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 52 week low of $31.23 and a 52 week high of $48.06. The stock’s 50-day simple moving average is $43.68 and its 200-day simple moving average is $41.53. The company has a market capitalization of $63.67 billion, a price-to-earnings ratio of -33.54, a PEG ratio of 1.92 and a beta of 1.05.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. The firm had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. As a group, analysts expect that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced 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 dividend yield of 4.34%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) 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.