Blue Trust Inc. Boosts Holdings in Truist Financial Co. (NYSE:TFC)

Blue Trust Inc. increased its holdings in Truist Financial Co. (NYSE:TFC) by 4.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,713 shares of the insurance provider’s stock after purchasing an additional 1,452 shares during the period. Blue Trust Inc.’s holdings in Truist Financial were worth $1,470,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Comprehensive Financial Consultants Institutional Inc. increased its position in shares of Truist Financial by 13.1% during the 2nd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 27,369 shares of the insurance provider’s stock valued at $1,063,000 after purchasing an additional 3,162 shares during the last quarter. Community Trust & Investment Co. grew its position in Truist Financial by 3.5% in the 2nd quarter. Community Trust & Investment Co. now owns 14,671 shares of the insurance provider’s stock valued at $570,000 after acquiring an additional 496 shares during the last quarter. SOA Wealth Advisors LLC. grew its position in Truist Financial by 656.4% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 2,723 shares of the insurance provider’s stock valued at $106,000 after acquiring an additional 2,363 shares during the last quarter. Welch Group LLC grew its position in Truist Financial by 2.1% in the 2nd quarter. Welch Group LLC now owns 1,222,780 shares of the insurance provider’s stock valued at $47,505,000 after acquiring an additional 25,271 shares during the last quarter. Finally, Abundance Wealth Counselors bought a new position in Truist Financial in the 2nd quarter valued at $1,010,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of NYSE:TFC traded up $0.16 during trading on Friday, hitting $42.53. The stock had a trading volume of 4,183,517 shares, compared to its average volume of 8,073,381. Truist Financial Co. has a 12-month low of $26.57 and a 12-month high of $45.31. The stock has a market capitalization of $56.95 billion, a price-to-earnings ratio of -32.22, a price-to-earnings-growth ratio of 1.96 and a beta of 1.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. The stock has a 50-day simple moving average of $40.23 and a two-hundred day simple moving average of $38.30.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.07. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The company’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same period last year, the business posted $0.95 earnings per share. On average, equities research analysts expect that Truist Financial Co. will post 3.56 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Insider Buying and Selling

In other news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were purchased at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the transaction, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The disclosure for this purchase can be found here. 0.17% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TFC has been the topic of several research analyst reports. Compass Point raised Truist Financial from a “neutral” rating to a “buy” rating and upped their price objective for the company from $34.00 to $42.00 in a research report on Tuesday, April 23rd. Stephens upped their price objective on Truist Financial from $43.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Bank of America increased their price target on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, Evercore ISI reissued an “in-line” rating and set a $44.00 price target on shares of Truist Financial in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $45.30.

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.