60,858 Shares in Truist Financial Corporation $TFC Acquired by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP acquired a new position in shares of Truist Financial Corporation (NYSE:TFC) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 60,858 shares of the insurance provider’s stock, valued at approximately $2,826,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TFC. Quest 10 Wealth Builders Inc. lifted its holdings in shares of Truist Financial by 24.6% in the third quarter. Quest 10 Wealth Builders Inc. now owns 1,039 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 205 shares in the last quarter. Shepherd Financial Partners LLC boosted its position in shares of Truist Financial by 1.8% in the third quarter. Shepherd Financial Partners LLC now owns 12,032 shares of the insurance provider’s stock worth $557,000 after buying an additional 208 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Truist Financial by 4.0% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,456 shares of the insurance provider’s stock worth $272,000 after buying an additional 211 shares during the period. Csenge Advisory Group grew its holdings in shares of Truist Financial by 0.3% during the second quarter. Csenge Advisory Group now owns 69,426 shares of the insurance provider’s stock valued at $3,459,000 after buying an additional 227 shares in the last quarter. Finally, Apella Capital LLC grew its holdings in shares of Truist Financial by 0.5% during the second quarter. Apella Capital LLC now owns 43,030 shares of the insurance provider’s stock valued at $2,210,000 after buying an additional 232 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Truist Financial

In other news, CEO Michael Lyons acquired 25,000 shares of Truist Financial stock in a transaction that occurred on Wednesday, October 28th. The stock was purchased at an average price of $48.36 per share, with a total value of $1,209,000.00. Following the completion of the transaction, the chief executive officer owned 46,000 shares in the company, valued at approximately $2,224,560. This trade represents a 119.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.15% of the company’s stock.

Truist Financial Stock Down 0.1%

TFC stock opened at $50.26 on Wednesday. The company has a 50 day moving average of $48.35 and a two-hundred day moving average of $49.50. The company has a market cap of $60.23 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 1.12 and a beta of 0.90. Truist Financial Corporation has a 12-month low of $43.13 and a 12-month high of $56.19. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.95.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, October 16th. The insurance provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.01). Truist Financial had a net margin of 18.01% and a return on equity of 10.37%. The company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter in the prior year, the firm earned $1.04 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. On average, equities analysts anticipate that Truist Financial Corporation will post 4.66 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, November 13th. Truist Financial’s dividend payout ratio (DPR) is currently 53.61%.

Analysts Set New Price Targets

Several research firms recently weighed in on TFC. Keefe, Bruyette & Woods dropped their price target on Truist Financial from $55.00 to $54.00 and set a “market perform” rating on the stock in a research report on Monday, October 19th. Stephens decreased their price objective on Truist Financial from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, October 20th. Wolfe Research assumed coverage on Truist Financial in a research note on Tuesday, October 27th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. lifted their target price on Truist Financial from $50.50 to $51.50 and gave the company an “underweight” rating in a research note on Friday, October 30th. Finally, TD Cowen assumed coverage on Truist Financial in a report on Thursday, October 8th. They issued a “hold” rating and a $52.00 target price on the stock. Nine investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $54.73.

Truist Financial Profile

Truist Financial Corporation (NYSE: TFC) is a financial services company headquartered in Charlotte, North Carolina. It provides banking and related services to individuals, businesses and institutions, including deposit accounts, loans, credit cards, payment services and treasury management. The company also offers wealth management, investment and mortgage services, along with commercial banking and capital markets solutions. Its operations are concentrated in the southeastern and mid-Atlantic United States, serving customers through branches, digital channels and other delivery platforms.