BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Holdings in Truist Financial Co. (NYSE:TFC)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its position in shares of Truist Financial Co. (NYSE:TFC) by 12.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 223,266 shares of the insurance provider’s stock after selling 32,374 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Truist Financial were worth $9,549,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Cetera Advisors LLC grew its position in Truist Financial by 61.7% during the 1st quarter. Cetera Advisors LLC now owns 99,857 shares of the insurance provider’s stock worth $3,892,000 after acquiring an additional 38,087 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Truist Financial by 7.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,933 shares of the insurance provider’s stock worth $260,000 after acquiring an additional 472 shares during the last quarter. Transcend Capital Advisors LLC bought a new position in Truist Financial during the 2nd quarter worth approximately $258,000. DNB Asset Management AS grew its position in Truist Financial by 6.8% during the 2nd quarter. DNB Asset Management AS now owns 215,048 shares of the insurance provider’s stock worth $8,355,000 after acquiring an additional 13,706 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Truist Financial during the 2nd quarter worth approximately $42,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 34,180 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was purchased at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is owned by company insiders.

Truist Financial Stock Down 0.1 %

Shares of NYSE:TFC opened at $47.68 on Monday. The stock has a fifty day simple moving average of $44.23 and a two-hundred day simple moving average of $41.84. The stock has a market capitalization of $63.30 billion, a price-to-earnings ratio of -33.34, a PEG ratio of 1.96 and a beta of 1.05. Truist Financial Co. has a 12-month low of $31.96 and a 12-month high of $49.06. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The business had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. On average, research analysts anticipate that Truist Financial Co. will post 3.7 earnings per share 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. Shareholders of record on Friday, November 8th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s payout ratio is -145.45%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TFC shares. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Stephens reiterated an “overweight” rating and issued a $50.00 price objective on shares of Truist Financial in a research report on Tuesday, September 10th. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. The Goldman Sachs Group lifted their price objective on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company lifted their price objective on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Truist Financial has a consensus rating of “Hold” and a consensus target price of $47.17.

Truist Financial Company 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.