Truist Financial Co. (NYSE:TFC) Shares Bought by Menard Financial Group LLC

Menard Financial Group LLC lifted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 2.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,312 shares of the insurance provider’s stock after purchasing an additional 489 shares during the quarter. Menard Financial Group LLC’s holdings in Truist Financial were worth $783,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legal & General Group Plc increased its holdings in shares of Truist Financial by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock worth $401,663,000 after buying an additional 103,565 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Truist Financial by 3.2% during the third 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 acquiring an additional 288,306 shares during the period. Dimensional Fund Advisors LP increased its stake in Truist Financial by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after acquiring an additional 299,196 shares during the last quarter. FMR LLC lifted its stake in shares of Truist Financial by 10.6% in the 3rd quarter. FMR LLC now owns 5,003,106 shares of the insurance provider’s stock valued at $213,983,000 after purchasing an additional 478,886 shares in the last quarter. Finally, Truist Financial Corp grew its holdings in shares of Truist Financial by 6.7% during the 2nd quarter. Truist Financial Corp now owns 4,931,783 shares of the insurance provider’s stock worth $191,600,000 after purchasing an additional 311,523 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC opened at $46.43 on Wednesday. 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 12-month low of $32.78 and a 12-month high of $49.06. The business’s fifty day moving average price is $44.42 and its 200 day moving average price is $41.93. The stock has a market capitalization of $61.64 billion, a PE ratio of -32.47, a price-to-earnings-growth ratio of 1.93 and a beta of 1.06.

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

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.48%. Truist Financial’s dividend payout ratio is currently -145.45%.

Analyst Ratings Changes

TFC has been the topic of a number of recent research reports. UBS Group lifted their price target on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Stephens reaffirmed an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a research report on Tuesday, September 10th. Wells Fargo & Company boosted their price objective on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their price target on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $47.67.

Insider Buying and Selling

In other news, CEO William H. Rogers, Jr. bought 34,180 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was purchased at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, the chief executive officer now owns 691,451 shares in the company, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.17% of the stock is owned by company insiders.

About Truist Financial

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.