Integrated Investment Consultants LLC Makes New Investment in Truist Financial Co. (NYSE:TFC)

Integrated Investment Consultants LLC purchased a new stake in Truist Financial Co. (NYSE:TFC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 59,531 shares of the insurance provider’s stock, valued at approximately $2,546,000.

Other large investors have also recently added to or reduced their stakes in the company. Tradewinds LLC. lifted its holdings in shares of Truist Financial by 0.5% in the third quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock valued at $1,904,000 after purchasing an additional 222 shares in the last quarter. Capital Investment Counsel Inc lifted its stake in Truist Financial by 0.4% in the 2nd quarter. Capital Investment Counsel Inc now owns 62,111 shares of the insurance provider’s stock worth $2,413,000 after acquiring an additional 244 shares in the last quarter. Burkett Financial Services LLC boosted its position in Truist Financial by 26.8% during the 3rd quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock worth $51,000 after acquiring an additional 253 shares during the period. Verum Partners LLC increased its holdings in shares of Truist Financial by 2.5% in the 2nd quarter. Verum Partners LLC now owns 10,573 shares of the insurance provider’s stock valued at $411,000 after purchasing an additional 261 shares during the period. Finally, CX Institutional lifted its position in shares of Truist Financial by 3.4% in the second quarter. CX Institutional now owns 8,050 shares of the insurance provider’s stock worth $313,000 after purchasing an additional 263 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Royal Bank of Canada upped their target price on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Morgan Stanley boosted their price target on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Stephens reaffirmed an “overweight” rating and set a $50.00 price objective on shares of Truist Financial in a research report on Tuesday, September 10th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.37.

Truist Financial Trading Down 1.0 %

Shares of TFC opened at $46.18 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 company has a market cap of $61.30 billion, a price-to-earnings ratio of -32.29, a PEG ratio of 1.92 and a beta of 1.05. The stock has a fifty day moving average price of $43.45 and a two-hundred day moving average price of $41.41. Truist Financial Co. has a 52-week low of $31.23 and a 52-week high of $47.57.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping 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 firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Analysts predict that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.50%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio is -145.45%.

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.