Truist Financial Co. (NYSE:TFC) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Truist Financial Co. (NYSE:TFC) by 3.2% in the third quarter, Holdings Channel.com reports. The firm owned 9,431,037 shares of the insurance provider’s stock after purchasing an additional 288,306 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Truist Financial were worth $403,365,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TFC. Plato Investment Management Ltd grew its position in shares of Truist Financial by 54.5% in the first quarter. Plato Investment Management Ltd now owns 4,412 shares of the insurance provider’s stock valued at $172,000 after purchasing an additional 1,556 shares during the period. Citizens Financial Group Inc. RI grew its position in shares of Truist Financial by 8.6% in the first quarter. Citizens Financial Group Inc. RI now owns 6,474 shares of the insurance provider’s stock valued at $252,000 after purchasing an additional 512 shares during the period. Swedbank AB purchased a new stake in Truist Financial during the first quarter valued at about $29,957,000. Atria Investments Inc grew its position in Truist Financial by 18.6% during the first quarter. Atria Investments Inc now owns 127,185 shares of the insurance provider’s stock valued at $4,958,000 after acquiring an additional 19,924 shares during the period. Finally, PGGM Investments purchased a new stake in Truist Financial during the first quarter valued at about $611,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. UBS Group boosted their price target on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods boosted their price target on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their price target on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Stephens reissued an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a research report on Tuesday, September 10th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Truist Financial presently has an average rating of “Hold” and an average price target of $47.17.

Insider Buying and Selling at Truist Financial

In other news, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The shares were purchased at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This represents a 5.20 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by insiders.

Truist Financial Stock Performance

NYSE:TFC opened at $47.75 on Friday. The business’s 50-day simple moving average is $44.13 and its 200 day simple moving average is $41.75. Truist Financial Co. has a one year low of $31.23 and a one year high of $49.06. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last announced 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. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The firm had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Research analysts forecast that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.36%. The ex-dividend date is Friday, November 8th. Truist Financial’s payout ratio is currently -145.45%.

About Truist Financial

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.