Truist Financial Co. (NYSE:TFC) Shares Purchased by Avestar Capital LLC

Avestar Capital LLC increased its stake in shares of Truist Financial Co. (NYSE:TFC) by 10.6% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 6,049 shares of the insurance provider’s stock after acquiring an additional 582 shares during the period. Avestar Capital LLC’s holdings in Truist Financial were worth $259,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Plato Investment Management Ltd raised its position in shares of Truist Financial by 54.5% in the 1st quarter. Plato Investment Management Ltd now owns 4,412 shares of the insurance provider’s stock valued at $172,000 after purchasing an additional 1,556 shares in the last quarter. Citizens Financial Group Inc. RI raised its position in shares of Truist Financial by 8.6% in the 1st quarter. Citizens Financial Group Inc. RI now owns 6,474 shares of the insurance provider’s stock valued at $252,000 after purchasing an additional 512 shares in the last quarter. Swedbank AB acquired a new position in shares of Truist Financial in the 1st quarter valued at approximately $29,957,000. Atria Investments Inc raised its position in shares of Truist Financial by 18.6% in the 1st quarter. Atria Investments Inc now owns 127,185 shares of the insurance provider’s stock valued at $4,958,000 after purchasing an additional 19,924 shares in the last quarter. Finally, PGGM Investments acquired a new position in shares of Truist Financial in the 1st quarter valued at approximately $611,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Up 0.1 %

Shares of NYSE TFC opened at $47.75 on Thursday. Truist Financial Co. has a 12 month low of $31.23 and a 12 month high of $49.06. The company has a market cap of $63.39 billion, a price-to-earnings ratio of -33.39, a P/E/G ratio of 1.97 and a beta of 1.05. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $44.03 and a 200-day simple moving average of $41.71.

Truist Financial (NYSE:TFC) last announced 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. 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 the consensus estimate of $5.05 billion. Sell-side analysts predict that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Announces Dividend

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 paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio is currently -145.45%.

Insider Buying and Selling

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 34,180 shares of Truist Financial stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the purchase, the chief executive officer now owns 691,451 shares in the company, valued at approximately $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TFC shares. Royal Bank of Canada upped their target price on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. 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 research report on Tuesday. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. UBS Group upped their price target on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Twelve 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, Truist Financial presently has a consensus rating of “Hold” and an average target price of $47.17.

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.