Beverly Hills Private Wealth LLC Has $339,000 Holdings in Truist Financial Co. (NYSE:TFC)

Beverly Hills Private Wealth LLC lessened its position in Truist Financial Co. (NYSE:TFC) by 9.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,714 shares of the insurance provider’s stock after selling 959 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Truist Financial were worth $339,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital International Investors boosted its position in Truist Financial by 93.7% during the first quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock valued at $453,854,000 after purchasing an additional 5,632,493 shares during the last quarter. Norges Bank acquired a new stake in shares of Truist Financial in the 4th quarter valued at approximately $307,787,000. UBS Group AG grew its stake in shares of Truist Financial by 2.7% in the fourth quarter. UBS Group AG now owns 3,914,044 shares of the insurance provider’s stock valued at $144,507,000 after buying an additional 101,288 shares in the last quarter. Jennison Associates LLC increased its holdings in Truist Financial by 48.9% during the first quarter. Jennison Associates LLC now owns 3,840,374 shares of the insurance provider’s stock worth $149,698,000 after buying an additional 1,261,598 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Truist Financial by 1.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,489,411 shares of the insurance provider’s stock worth $136,018,000 after acquiring an additional 58,349 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO William H. Rogers, Jr. purchased 57,300 shares of Truist Financial stock in a transaction that occurred on Tuesday, July 23rd. The shares were acquired at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the transaction, the chief executive officer now owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were bought at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the acquisition, the chief executive officer now directly owns 569,271 shares in the company, valued at approximately $25,025,153.16. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Stock Up 0.5 %

NYSE TFC opened at $41.84 on Friday. The company has a market cap of $56.03 billion, a price-to-earnings ratio of -31.70, a PEG ratio of 1.95 and a beta of 1.06. Truist Financial Co. has a 1-year low of $26.57 and a 1-year high of $45.31. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average of $42.53 and a 200-day moving average of $39.28.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same period in the previous year, the firm earned $0.95 EPS. The company’s quarterly revenue was down 15.9% compared to the same quarter last year. On average, equities research analysts expect that Truist Financial Co. will post 3.55 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Analyst Ratings Changes

TFC has been the subject of a number of analyst reports. Stephens reissued an “overweight” rating and issued a $50.00 price objective on shares of Truist Financial in a research report on Tuesday. Morgan Stanley boosted their price target on Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods increased their price target on Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $45.45.

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.