Hotchkis & Wiley Capital Management LLC Sells 547,460 Shares of Truist Financial Co. (NYSE:TFC)

Hotchkis & Wiley Capital Management LLC trimmed its position in shares of Truist Financial Co. (NYSE:TFC) by 12.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,010,245 shares of the insurance provider’s stock after selling 547,460 shares during the quarter. Hotchkis & Wiley Capital Management LLC’s holdings in Truist Financial were worth $171,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in TFC. M&G Plc acquired a new position in Truist Financial in the 2nd quarter valued at $2,804,000. Cadence Bank lifted its holdings in shares of Truist Financial by 101.6% in the 3rd quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock worth $7,920,000 after acquiring an additional 93,322 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Truist Financial by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock valued at $346,957,000 after buying an additional 299,196 shares during the period. Boston Common Asset Management LLC boosted its holdings in shares of Truist Financial by 66.4% during the 3rd quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock valued at $6,609,000 after acquiring an additional 61,683 shares during the last quarter. Finally, Independent Advisor Alliance lifted its stake in shares of Truist Financial by 10.7% during the 3rd quarter. Independent Advisor Alliance now owns 282,607 shares of the insurance provider’s stock valued at $12,087,000 after buying an additional 27,408 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TFC shares. UBS Group raised their price objective on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Wells Fargo & Company upped their price target on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. raised their target price on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, Compass Point increased their target price on Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $47.17.

Truist Financial Trading Down 1.5 %

Shares of NYSE TFC opened at $46.97 on Tuesday. Truist Financial Co. has a fifty-two week low of $32.78 and a fifty-two week high of $49.06. The business has a 50-day moving average of $44.23 and a 200-day moving average of $41.84. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. As a group, sell-side analysts anticipate that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.43%. The ex-dividend date was Friday, November 8th. Truist Financial’s dividend payout ratio is presently -145.45%.

Insider Buying and Selling at Truist Financial

In related news, CEO William H. Rogers, Jr. acquired 34,180 shares of the firm’s stock in a transaction dated 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 completion of the acquisition, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

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.