Loomis Sayles & Co. L P Buys 15,136 Shares of Truist Financial Co. (NYSE:TFC)

Loomis Sayles & Co. L P grew its stake in Truist Financial Co. (NYSE:TFC) by 835.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,947 shares of the insurance provider’s stock after acquiring an additional 15,136 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Truist Financial were worth $725,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. DRW Securities LLC boosted its holdings in Truist Financial by 7.8% in the third quarter. DRW Securities LLC now owns 122,312 shares of the insurance provider’s stock worth $5,231,000 after acquiring an additional 8,863 shares in the last quarter. Independent Advisor Alliance boosted its holdings in Truist Financial by 10.7% in the third quarter. Independent Advisor Alliance now owns 282,607 shares of the insurance provider’s stock worth $12,087,000 after acquiring an additional 27,408 shares in the last quarter. Douglass Winthrop Advisors LLC lifted its holdings in shares of Truist Financial by 5.9% during the third quarter. Douglass Winthrop Advisors LLC now owns 18,980 shares of the insurance provider’s stock valued at $812,000 after purchasing an additional 1,064 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Truist Financial by 4.5% during the third quarter. Fisher Asset Management LLC now owns 7,995 shares of the insurance provider’s stock valued at $342,000 after purchasing an additional 345 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Truist Financial by 12.4% during the third quarter. Daiwa Securities Group Inc. now owns 163,373 shares of the insurance provider’s stock valued at $6,987,000 after purchasing an additional 17,967 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Citigroup upped their price target on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday. UBS Group upped their price target on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Stephens reaffirmed an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group upped their price target on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.17.

Truist Financial Stock Up 0.1 %

TFC opened at $47.75 on Thursday. The stock has a market cap of $63.39 billion, a price-to-earnings ratio of -33.39, a price-to-earnings-growth ratio of 1.97 and a beta of 1.05. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The firm’s fifty day moving average is $44.03 and its 200 day moving average is $41.71. Truist Financial Co. has a fifty-two week low of $31.23 and a fifty-two week high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The business had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. On average, sell-side analysts forecast that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a $0.52 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.36%. Truist Financial’s payout ratio is presently -145.45%.

Insiders Place Their Bets

In other news, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was purchased at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the transaction, 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by company insiders.

About Truist Financial

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.