Baugh & Associates LLC Purchases 2,083 Shares of Truist Financial Co. (NYSE:TFC)

Baugh & Associates LLC lifted its position in shares of Truist Financial Co. (NYSE:TFC) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 135,462 shares of the insurance provider’s stock after purchasing an additional 2,083 shares during the period. Truist Financial comprises 2.9% of Baugh & Associates LLC’s investment portfolio, making the stock its 13th largest holding. Baugh & Associates LLC’s holdings in Truist Financial were worth $5,566,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crewe Advisors LLC bought a new stake in shares of Truist Financial during the first quarter worth about $27,000. MFA Wealth Advisors LLC bought a new stake in Truist Financial in the second quarter valued at approximately $30,000. Y.D. More Investments Ltd bought a new stake in Truist Financial in the second quarter valued at approximately $31,000. Fortitude Family Office LLC boosted its holdings in Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 678 shares during the last quarter. Finally, Hobbs Group Advisors LLC bought a new stake in Truist Financial in the second quarter valued at approximately $38,000. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Up 11.1 %

Shares of NYSE:TFC opened at $47.01 on Thursday. The company has a market capitalization of $62.40 billion, a PE ratio of -32.87, a price-to-earnings-growth ratio of 1.73 and a beta of 1.05. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The business has a fifty day moving average price of $42.82 and a two-hundred day moving average price of $40.85. Truist Financial Co. has a 1 year low of $28.93 and a 1 year high of $47.03.

Truist Financial Announces Dividend

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 paid 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 4.43%. Truist Financial’s payout ratio is -145.45%.

Analyst Upgrades and Downgrades

TFC has been the topic of several analyst reports. Royal Bank of Canada upped their target price on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 18th. The Goldman Sachs Group reduced their target price on Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. UBS Group upped their target price on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Barclays boosted their price target on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research note on Wednesday, July 17th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Truist Financial currently has an average rating of “Hold” and a consensus price target of $46.02.

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.