FWG Holdings LLC Sells 2,752 Shares of Truist Financial Co. (NYSE:TFC)

FWG Holdings LLC trimmed its position in shares of Truist Financial Co. (NYSE:TFC) by 33.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,460 shares of the insurance provider’s stock after selling 2,752 shares during the period. FWG Holdings LLC’s holdings in Truist Financial were worth $236,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC bought a new stake in shares of Truist Financial in the 1st quarter worth approximately $344,000. O Shaughnessy Asset Management LLC boosted its holdings in Truist Financial by 46.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 111,963 shares of the insurance provider’s stock valued at $4,364,000 after acquiring an additional 35,636 shares in the last quarter. UniSuper Management Pty Ltd boosted its holdings in Truist Financial by 1,117.2% in the first quarter. UniSuper Management Pty Ltd now owns 23,552 shares of the insurance provider’s stock valued at $918,000 after acquiring an additional 21,617 shares in the last quarter. Lake Street Advisors Group LLC increased its position in Truist Financial by 44.2% during the 1st quarter. Lake Street Advisors Group LLC now owns 8,299 shares of the insurance provider’s stock valued at $323,000 after purchasing an additional 2,544 shares during the period. Finally, National Bank of Canada FI raised its holdings in Truist Financial by 41.8% in the 1st quarter. National Bank of Canada FI now owns 1,835,736 shares of the insurance provider’s stock worth $72,446,000 after purchasing an additional 541,037 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Trading Up 0.5 %

Truist Financial stock opened at $46.79 on Tuesday. The business has a 50-day simple moving average of $43.27 and a two-hundred day simple moving average of $41.33. Truist Financial Co. has a 52-week low of $31.23 and a 52-week high of $47.57. 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 company has a market cap of $62.11 billion, a P/E ratio of -32.72, a P/E/G ratio of 1.91 and a beta of 1.05.

Truist Financial (NYSE:TFC) last announced its earnings results 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. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The company had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. Analysts predict that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.45%. Truist Financial’s dividend payout ratio is currently -145.45%.

Analyst Upgrades and Downgrades

TFC has been the topic of several research analyst reports. Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and boosted their price target for the company from $45.00 to $47.00 in a research report on Wednesday, July 24th. Compass Point increased their target price on Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. UBS Group raised their target price on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. raised their price objective on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Finally, Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.37.

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.