Symphony Financial Ltd. Co. Acquires 3,468 Shares of Truist Financial Co. (NYSE:TFC)

Symphony Financial Ltd. Co. boosted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 14.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,214 shares of the insurance provider’s stock after acquiring an additional 3,468 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Truist Financial were worth $1,189,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors lifted its position in shares of Truist Financial by 93.7% in the 1st quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after purchasing an additional 5,632,493 shares during the period. Legal & General Group Plc lifted its position in shares of Truist Financial by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock valued at $401,663,000 after acquiring an additional 103,565 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Truist Financial by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock valued at $346,957,000 after acquiring an additional 299,196 shares during the period. Truist Financial Corp lifted its position in shares of Truist Financial by 6.7% during the 2nd quarter. Truist Financial Corp now owns 4,931,783 shares of the insurance provider’s stock valued at $191,600,000 after acquiring an additional 311,523 shares during the period. Finally, Jennison Associates LLC lifted its position in shares of Truist Financial by 48.9% during the 1st quarter. Jennison Associates LLC now owns 3,840,374 shares of the insurance provider’s stock valued at $149,698,000 after acquiring an additional 1,261,598 shares during the period. 71.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on TFC shares. Compass Point boosted their target price on shares of Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Morgan Stanley boosted their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group decreased their price target on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Barclays boosted their price target on shares of 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, JPMorgan Chase & Co. upped their target price 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. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $46.02.

Truist Financial Trading Up 2.3 %

Truist Financial stock opened at $43.39 on Wednesday. The business has a 50-day simple moving average of $42.73 and a two-hundred day simple moving average of $40.39. The company has a market cap of $58.06 billion, a P/E ratio of -32.87, a P/E/G ratio of 1.83 and a beta of 1.05. Truist Financial Co. has a 52-week low of $26.95 and a 52-week high of $45.31. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The firm’s revenue was down 15.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 EPS. Analysts predict that Truist Financial Co. will post 3.57 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.79%. Truist Financial’s dividend payout ratio is presently -157.58%.

Insider Transactions at Truist Financial

In other news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.17% of the company’s stock.

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.