Truist Financial Corporation $TFC Stock: Eurizon Capital SGR S.p.A. Decreases Stake

Eurizon Capital SGR S.p.A. lessened its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 10.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 733,467 shares of the insurance provider’s stock after selling 83,420 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in Truist Financial were worth $33,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. N.E.W. Advisory Services LLC purchased a new stake in shares of Truist Financial in the 2nd quarter worth $30,000. Navigoe LLC bought a new position in Truist Financial in the 2nd quarter worth $30,000. Valued Wealth Advisors LLC lifted its position in Truist Financial by 107.6% during the third quarter. Valued Wealth Advisors LLC now owns 679 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 352 shares in the last quarter. Wilkerson Advisory Group LLC lifted its position in Truist Financial by 104.0% during the first quarter. Wilkerson Advisory Group LLC now owns 826 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 421 shares in the last quarter. Finally, Elevation Wealth Partners LLC lifted its position in Truist Financial by 44.6% during the second quarter. Elevation Wealth Partners LLC now owns 892 shares of the insurance provider’s stock valued at $44,000 after purchasing an additional 275 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

TFC has been the subject of several recent research reports. The Goldman Sachs Group cut their price target on Truist Financial from $59.00 to $58.00 and set a “buy” rating for the company in a report on Monday, October 19th. TD Cowen initiated coverage on Truist Financial in a research note on Thursday, October 8th. They issued a “hold” rating and a $52.00 price objective on the stock. Wall Street Zen cut Truist Financial from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Bank of America lowered their price objective on Truist Financial from $56.00 to $53.00 in a research report on Thursday, October 8th. Finally, Citigroup cut their price objective on Truist Financial from $54.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, October 21st. Nine research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $54.73.

Insider Activity at Truist Financial

In other Truist Financial news, CEO Michael Lyons acquired 25,000 shares of the stock in a transaction dated Wednesday, October 28th. The shares were acquired at an average cost 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. The trade was a 119.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.15% of the stock is owned by insiders.

Truist Financial Stock Up 0.2%

Shares of TFC stock opened at $49.98 on Friday. The company has a market capitalization of $59.91 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 1.11 and a beta of 0.90. Truist Financial Corporation has a one year low of $43.13 and a one year high of $56.19. The company’s fifty day moving average price is $48.31 and its 200-day moving average price is $49.50. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.88 and a quick ratio of 0.88.

Truist Financial (NYSE:TFC) last issued 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). The firm had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.35 billion. Truist Financial had a return on equity of 10.37% and a net margin of 18.01%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.04 EPS. Sell-side analysts expect that Truist Financial Corporation will post 4.66 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Friday, November 13th. Truist Financial’s payout ratio is presently 53.61%.

Truist Financial Company 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.