Sheaff Brock Investment Advisors LLC Buys 4,518 Shares of Truist Financial Co. (NYSE:TFC)

Sheaff Brock Investment Advisors LLC lifted its stake in shares of Truist Financial Co. (NYSE:TFC) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 203,237 shares of the insurance provider’s stock after purchasing an additional 4,518 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Truist Financial were worth $8,692,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its position in shares of Truist Financial by 10.6% in the 1st quarter. Russell Investments Group Ltd. now owns 230,604 shares of the insurance provider’s stock valued at $8,965,000 after acquiring an additional 22,182 shares during the period. Koshinski Asset Management Inc. bought a new position in Truist Financial during the first quarter worth about $443,000. Kingsview Wealth Management LLC increased its position in Truist Financial by 9.7% during the first quarter. Kingsview Wealth Management LLC now owns 74,846 shares of the insurance provider’s stock worth $2,917,000 after buying an additional 6,640 shares during the last quarter. HBK Sorce Advisory LLC raised its stake in Truist Financial by 21.8% in the first quarter. HBK Sorce Advisory LLC now owns 7,765 shares of the insurance provider’s stock valued at $303,000 after buying an additional 1,392 shares during the period. Finally, Orion Portfolio Solutions LLC raised its stake in Truist Financial by 2.2% in the 1st quarter. Orion Portfolio Solutions LLC now owns 99,232 shares of the insurance provider’s stock valued at $3,868,000 after acquiring an additional 2,158 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the subject of a number of research analyst reports. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Stephens reiterated an “overweight” rating and issued a $50.00 price target on shares of Truist Financial in a research note on Tuesday, September 10th. Wells Fargo & Company increased their price target on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Friday. JPMorgan Chase & Co. boosted 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. Finally, Citigroup lowered Truist Financial from a “buy” rating to a “neutral” rating and increased their target price for the stock from $45.00 to $47.00 in a research note on Wednesday, July 24th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $46.37.

Truist Financial Trading Down 0.1 %

Shares of TFC stock opened at $46.21 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $61.34 billion, a P/E ratio of -32.34, a P/E/G ratio of 1.91 and a beta of 1.05. Truist Financial Co. has a twelve month low of $31.13 and a twelve month high of $47.57. The stock’s fifty day simple moving average is $43.03 and its 200 day simple moving average is $41.13.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.08. The company had revenue of $5.09 billion during 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 predict that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.50%. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

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.