Truist Financial Co. (NYSE:TFC) Shares Bought by Asio Capital LLC

Asio Capital LLC grew its holdings in shares of Truist Financial Co. (NYSE:TFC) by 0.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 104,525 shares of the insurance provider’s stock after acquiring an additional 247 shares during the quarter. Asio Capital LLC’s holdings in Truist Financial were worth $4,471,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Crewe Advisors LLC purchased a new stake in shares of Truist Financial during the first quarter valued at $27,000. Opal Wealth Advisors LLC purchased a new stake in shares of Truist Financial during the first quarter valued at $29,000. MFA Wealth Advisors LLC purchased a new stake in shares of Truist Financial during the second quarter valued at $30,000. Y.D. More Investments Ltd purchased a new stake in shares of Truist Financial during the second quarter valued at $31,000. Finally, Rise Advisors LLC purchased a new stake in shares of Truist Financial during the first quarter valued at $32,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In other news, CEO William H. Rogers, Jr. acquired 57,300 shares of Truist Financial stock in a transaction on Tuesday, July 23rd. The stock was bought 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 $25,025,153.16. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO William H. Rogers, Jr. acquired 57,300 shares of Truist Financial stock in a transaction on Tuesday, July 23rd. The stock was bought 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 $25,025,153.16. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $43.26 on Friday. The business has a 50 day moving average price of $42.45 and a 200 day moving average price of $40.11. Truist Financial Co. has a twelve month low of $26.95 and a twelve month high of $45.31. The company has a market cap of $57.93 billion, a price-to-earnings ratio of -26.70, a PEG ratio of 1.78 and a beta of 1.05. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last announced its earnings results 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 the consensus estimate of $4.83 billion. During the same quarter in the prior year, the company earned $0.95 EPS. The firm’s revenue for the quarter was down 15.9% compared to the same quarter last year. Research analysts predict that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 4.81%. Truist Financial’s payout ratio is -128.40%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TFC shares. Royal Bank of Canada upped their target price on Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Argus upped their price target on Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research report on Wednesday, July 17th. Barclays upped their price target on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $45.45.

Truist Financial 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.