Financial Partners Group LLC Sells 2,541 Shares of Truist Financial Co. (NYSE:TFC)

Financial Partners Group LLC trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC) by 6.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,012 shares of the insurance provider’s stock after selling 2,541 shares during the period. Financial Partners Group LLC’s holdings in Truist Financial were worth $1,540,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Crewe Advisors LLC purchased a new position in Truist Financial in the 1st quarter worth about $27,000. MFA Wealth Advisors LLC purchased a new stake in Truist Financial during the second quarter valued at approximately $30,000. Y.D. More Investments Ltd bought a new position in Truist Financial in the second quarter worth approximately $31,000. Hobbs Group Advisors LLC purchased a new position in shares of Truist Financial during the 2nd quarter worth $38,000. Finally, Beacon Capital Management LLC grew its position in shares of Truist Financial by 57.4% during the 1st quarter. Beacon Capital Management LLC now owns 1,015 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 370 shares during the period. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Stephens reiterated an “overweight” rating and set a $50.00 target price on shares of Truist Financial in a research report on Tuesday, September 10th. Morgan Stanley boosted their price objective 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. Baird R W cut shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods upped their price target on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating 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. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Hold” and a consensus price target of $46.02.

Truist Financial Price Performance

TFC stock opened at $43.42 on Friday. Truist Financial Co. has a 52 week low of $27.01 and a 52 week high of $45.31. The firm has a market capitalization of $58.15 billion, a P/E ratio of -30.36, a price-to-earnings-growth ratio of 1.84 and a beta of 1.05. The company has a fifty day simple moving average of $42.76 and a two-hundred day simple moving average of $40.41. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter last year, the firm earned $0.95 EPS. The firm’s revenue for the quarter was down 15.9% compared to the same quarter last year. Analysts anticipate that Truist Financial Co. will post 3.58 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) 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.