William H. Rogers, Jr. Acquires 34,180 Shares of Truist Financial Co. (NYSE:TFC) Stock

Truist Financial Co. (NYSE:TFC) CEO William H. Rogers, Jr. purchased 34,180 shares of Truist Financial stock in a transaction on Monday, November 25th. The shares were acquired at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the transaction, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Truist Financial Trading Up 0.1 %

Shares of NYSE:TFC opened at $47.75 on Friday. Truist Financial Co. has a 52-week low of $31.23 and a 52-week high of $49.06. The stock has a market capitalization of $63.39 billion, a price-to-earnings ratio of -33.39, a PEG ratio of 1.97 and a beta of 1.05. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s 50-day simple moving average is $44.13 and its two-hundred day simple moving average is $41.75.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. Analysts expect that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio is -145.45%.

Institutional Trading of Truist Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp boosted its holdings in Truist Financial by 4.6% in the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after buying an additional 2,720,223 shares during the period. Geode Capital Management LLC boosted its stake in shares of Truist Financial by 1.7% in the third quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock worth $1,169,350,000 after acquiring an additional 456,412 shares during the period. Legal & General Group Plc grew its position in shares of Truist Financial by 1.0% during the second quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock worth $401,663,000 after purchasing an additional 103,565 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Truist Financial by 3.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,431,037 shares of the insurance provider’s stock valued at $403,365,000 after purchasing an additional 288,306 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in 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 purchasing an additional 299,196 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TFC has been the subject of several analyst reports. Royal Bank of Canada upped their price target on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Citigroup increased their target price on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. increased their price objective on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their target price on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $47.17.

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.