Atlanta Consulting Group Advisors LLC Takes $844,000 Position in Truist Financial Co. (NYSE:TFC)

Atlanta Consulting Group Advisors LLC purchased a new position in shares of Truist Financial Co. (NYSE:TFC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 19,727 shares of the insurance provider’s stock, valued at approximately $844,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TFC. Valley Wealth Managers Inc. bought a new position in shares of Truist Financial during the third quarter worth approximately $26,000. Crewe Advisors LLC acquired a new position in Truist Financial in the 1st quarter valued at $27,000. MFA Wealth Advisors LLC acquired a new position in Truist Financial in the 2nd quarter valued at $30,000. Y.D. More Investments Ltd bought a new stake in shares of Truist Financial during the 2nd quarter valued at $31,000. Finally, Fortitude Family Office LLC grew its holdings in shares of Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $46.55 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. Truist Financial Co. has a twelve month low of $31.13 and a twelve month high of $47.57. The company’s fifty day moving average is $43.18 and its 200 day moving average is $41.24.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.08. The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. On average, sell-side analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.47%. Truist Financial’s payout ratio is presently -145.45%.

Analyst Ratings Changes

A number of research analysts recently commented on TFC shares. Bank of America boosted their price target on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Barclays boosted their target price on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company increased their price target on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday. Argus upped their target price on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada lifted their price target on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $46.37.

Truist Financial Company 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.