Captrust Financial Advisors Grows Holdings in Truist Financial Co. (NYSE:TFC)

Captrust Financial Advisors lifted its position in shares of Truist Financial Co. (NYSE:TFC) by 0.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 761,953 shares of the insurance provider’s stock after buying an additional 1,059 shares during the quarter. Captrust Financial Advisors owned approximately 0.06% of Truist Financial worth $32,589,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Valley Wealth Managers Inc. acquired a new position in Truist Financial in the 3rd quarter valued at $26,000. MFA Wealth Advisors LLC acquired a new position in Truist Financial in the second quarter valued at $30,000. Y.D. More Investments Ltd purchased a new position in Truist Financial during the second quarter worth about $31,000. MidAtlantic Capital Management Inc. acquired a new stake in Truist Financial in the 3rd quarter worth about $32,000. Finally, Fortitude Family Office LLC grew 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 valued at $37,000 after buying an additional 678 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 34,180 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was purchased at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. This trade represents a 5.20 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.17% of the stock is owned by corporate insiders.

Truist Financial Price Performance

TFC stock opened at $47.68 on Friday. The stock’s 50 day moving average is $44.23 and its two-hundred day moving average is $41.81. Truist Financial Co. has a 52-week low of $31.96 and a 52-week high of $49.06. The company has a market capitalization of $63.30 billion, a PE ratio of -33.34, a P/E/G ratio of 1.96 and a beta of 1.05. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The business had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. Analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.52 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.36%. Truist Financial’s dividend payout ratio (DPR) is -145.45%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TFC. Stephens reiterated an “overweight” rating and set a $50.00 price objective on shares of Truist Financial in a report on Tuesday, September 10th. The Goldman Sachs Group increased their price target on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday. 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 report on Friday, October 18th. Compass Point lifted their target price on Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. Finally, UBS Group upped their price target on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.