KBC Group NV Has $44.14 Million Stock Holdings in Truist Financial Co. (NYSE:TFC)

KBC Group NV trimmed its stake in Truist Financial Co. (NYSE:TFC) by 63.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,032,130 shares of the insurance provider’s stock after selling 1,777,944 shares during the period. KBC Group NV owned about 0.08% of Truist Financial worth $44,144,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crewe Advisors LLC acquired a new stake in Truist Financial during the 1st quarter valued at approximately $27,000. MFA Wealth Advisors LLC bought a new stake in shares of Truist Financial in the 2nd quarter valued at $30,000. Y.D. More Investments Ltd acquired a new stake in shares of Truist Financial during the second quarter worth $31,000. Fortitude Family Office LLC lifted its holdings in Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after buying an additional 678 shares during the period. Finally, Hobbs Group Advisors LLC bought a new stake in Truist Financial during the second quarter valued at $38,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

NYSE TFC opened at $46.25 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The business has a fifty day simple moving average of $43.03 and a 200 day simple moving average of $41.13. Truist Financial Co. has a 12 month low of $31.12 and a 12 month high of $47.57.

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 negative net margin of 4.89% and a positive return on equity of 9.35%. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. As a group, equities research 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. Stockholders of record on Friday, November 8th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.50%. Truist Financial’s payout ratio is presently -145.45%.

Analyst Ratings Changes

Several research firms recently commented on TFC. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods increased their target price on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada lifted their price target on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, Compass Point increased their price objective on shares of Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Twelve investment 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 has a consensus rating of “Hold” and an average target price of $46.02.

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.