Sanders Capital LLC Sells 358 Shares of Truist Financial Co. (NYSE:TFC)

Sanders Capital LLC reduced its position in Truist Financial Co. (NYSE:TFC) by 0.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,189,656 shares of the insurance provider’s stock after selling 358 shares during the quarter. Sanders Capital LLC owned 0.16% of Truist Financial worth $93,652,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TFC. Avestar Capital LLC raised its holdings in shares of Truist Financial by 10.6% in the 3rd quarter. Avestar Capital LLC now owns 6,049 shares of the insurance provider’s stock valued at $259,000 after purchasing an additional 582 shares in the last quarter. Brooklyn Investment Group purchased a new position in Truist Financial during the third quarter valued at approximately $104,000. Quantbot Technologies LP bought a new position in Truist Financial in the third quarter worth approximately $6,098,000. FMR LLC boosted its position in Truist Financial by 10.6% during the 3rd quarter. FMR LLC now owns 5,003,106 shares of the insurance provider’s stock valued at $213,983,000 after acquiring an additional 478,886 shares in the last quarter. Finally, Patton Albertson Miller Group LLC increased its holdings in shares of Truist Financial by 2.7% in the 3rd quarter. Patton Albertson Miller Group LLC now owns 27,719 shares of the insurance provider’s stock valued at $1,186,000 after acquiring an additional 723 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TFC. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Compass Point boosted their price objective on Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. Royal Bank of Canada lifted their price target on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, Citigroup upped their price objective on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Truist Financial currently has an average rating of “Hold” and a consensus price target of $47.17.

Truist Financial Price Performance

Truist Financial stock opened at $47.92 on Tuesday. The company has a fifty day simple moving average of $43.80 and a 200-day simple moving average of $41.61. 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 $63.61 billion, a price-to-earnings ratio of -33.64, a PEG ratio of 1.97 and a beta of 1.05. Truist Financial Co. has a 52-week low of $31.23 and a 52-week high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates 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 negative net margin of 4.89% and a positive return on equity of 9.35%. On average, equities analysts anticipate that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.34%. Truist Financial’s payout ratio 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.