Truist Financial Co. (NYSE:TFC) CEO Acquires $1,659,780.80 in Stock

Truist Financial Co. (NYSE:TFC) CEO William H. Rogers, Jr. bought 34,180 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were 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 owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This represents a 5.20 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Truist Financial Stock Performance

Shares of TFC stock opened at $47.75 on Thursday. 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 has a market capitalization 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. Truist Financial Co. has a one year low of $31.23 and a one year high of $49.06. The company has a 50 day moving average price of $44.03 and a 200 day moving average price of $41.71.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 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 the consensus estimate of $5.05 billion. Sell-side analysts anticipate that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Dividend Announcement

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

Institutional Trading of Truist Financial

A number of institutional investors have recently modified their holdings of the company. State Street Corp raised its holdings in Truist Financial by 4.6% in the third quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after buying an additional 2,720,223 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Truist Financial by 316.4% in the third quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock worth $90,585,000 after acquiring an additional 1,609,351 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Truist Financial by 26.1% in the 3rd quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock valued at $166,892,000 after acquiring an additional 807,648 shares during the period. Swedbank AB acquired a new position in shares of Truist Financial during the 1st quarter valued at $29,957,000. Finally, LPL Financial LLC lifted its holdings in shares of Truist Financial by 21.0% during the 3rd quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock valued at $155,288,000 after acquiring an additional 630,628 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

TFC has been the topic of several recent research reports. UBS Group boosted their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. The Goldman Sachs Group increased their price target on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday. Royal Bank of Canada lifted their price objective on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods increased their target price on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped their price objective on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently 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.