21,738 Shares in Truist Financial Corporation $TFC Acquired by Partners Wealth Management LLC

Partners Wealth Management LLC purchased a new stake in shares of Truist Financial Corporation (NYSE:TFC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 21,738 shares of the insurance provider’s stock, valued at approximately $1,006,000.

Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Truist Financial during the 2nd quarter valued at approximately $4,959,834,000. Bank of New York Mellon Corp purchased a new position in shares of Truist Financial in the second quarter valued at $338,855,000. Deutsche Bank AG bought a new stake in Truist Financial in the second quarter worth $257,208,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Truist Financial in the second quarter worth $151,526,000. Finally, SEB Asset Management AB purchased a new stake in Truist Financial during the first quarter valued at $124,144,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In other Truist Financial news, CEO Michael Lyons bought 25,000 shares of the company’s stock in a transaction on Wednesday, October 28th. The stock was acquired at an average price of $48.36 per share, for a total transaction of $1,209,000.00. Following the completion of the transaction, the chief executive officer directly owned 46,000 shares of the company’s stock, valued at approximately $2,224,560. This represents a 119.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is currently owned by insiders.

Truist Financial Stock Down 1.2%

NYSE TFC opened at $48.74 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.95. The company has a fifty day moving average of $48.39 and a two-hundred day moving average of $49.50. The firm has a market capitalization of $59.54 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 1.08 and a beta of 0.92. Truist Financial Corporation has a 52 week low of $43.13 and a 52 week high of $56.19.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, October 16th. The insurance provider reported $1.16 earnings per share 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 firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the prior year, the company posted $1.04 EPS. The company’s revenue was up 1.3% compared to the same quarter last year. On average, analysts predict that Truist Financial Corporation will post 4.71 earnings per share for the current 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 given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Friday, November 13th. Truist Financial’s dividend payout ratio is 53.61%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Truist Financial from $55.00 to $54.00 and set a “market perform” rating for the company in a research report on Monday, October 19th. Bank of America downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $54.00 to $56.00 in a report on Wednesday, July 8th. TD Cowen initiated coverage on shares of Truist Financial in a research report on Thursday, October 8th. They set a “hold” rating and a $52.00 target price on the stock. Evercore reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Truist Financial in a report on Tuesday. Finally, Robert W. Baird lifted their price target on Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $53.82.

Truist Financial Profile

Truist Financial Corporation is a financial services company headquartered in Charlotte, North Carolina, operating through its principal subsidiary, Truist Bank. The company provides banking, lending, investment, insurance and wealth management services to consumers, small businesses, commercial clients and institutional customers.

Its offerings include checking and savings accounts, mortgages, consumer loans, credit cards, commercial and industrial lending, treasury and payment services, investment banking, brokerage, asset management and insurance products.