CreativeOne Wealth LLC Acquires 6,190 Shares of Truist Financial Co. (NYSE:TFC)

CreativeOne Wealth LLC raised its holdings in shares of Truist Financial Co. (NYSE:TFC) by 81.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,832 shares of the insurance provider’s stock after acquiring an additional 6,190 shares during the quarter. CreativeOne Wealth LLC’s holdings in Truist Financial were worth $592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of TFC. Valley Wealth Managers Inc. purchased a new position in Truist Financial during the third quarter valued at $26,000. MFA Wealth Advisors LLC bought a new position in shares of Truist Financial in the second quarter worth about $30,000. Y.D. More Investments Ltd purchased a new position in shares of Truist Financial during the 2nd quarter valued at about $31,000. MidAtlantic Capital Management Inc. bought a new position in shares of Truist Financial during the 3rd quarter valued at approximately $32,000. Finally, Fortitude Family Office LLC increased its holdings in Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 678 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 0.1 %

TFC opened at $47.68 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s 50 day moving average price is $44.23 and its 200-day moving average price is $41.83. Truist Financial Co. has a one year low of $31.96 and a one year high of $49.06. The stock has a market cap of $63.30 billion, a price-to-earnings ratio of -33.34, a P/E/G ratio of 1.96 and a beta of 1.05.

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

Insider Activity

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 34,180 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the subject of a number of recent analyst reports. 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. Keefe, Bruyette & Woods raised their price target on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Royal Bank of Canada upped their price objective on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Finally, Compass Point upped their price target on Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Truist Financial currently has a consensus rating of “Hold” and a consensus target price of $47.17.

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.