Fiduciary Family Office LLC Sells 851 Shares of Truist Financial Co. (NYSE:TFC)

Fiduciary Family Office LLC reduced its stake in Truist Financial Co. (NYSE:TFC) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,027 shares of the insurance provider’s stock after selling 851 shares during the period. Fiduciary Family Office LLC’s holdings in Truist Financial were worth $1,669,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Crewe Advisors LLC bought a new position in shares of Truist Financial during the first quarter valued at approximately $27,000. MFA Wealth Advisors LLC bought a new stake in shares of Truist Financial during the second quarter valued at approximately $30,000. Y.D. More Investments Ltd purchased a new position in Truist Financial in the 2nd quarter worth approximately $31,000. Fortitude Family Office LLC raised its holdings in Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 678 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in Truist Financial in the 2nd quarter worth approximately $38,000. 71.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on TFC. Stephens reiterated an “overweight” rating and set a $50.00 target price on shares of Truist Financial in a research note on Tuesday, September 10th. Royal Bank of Canada boosted their price objective 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. The Goldman Sachs Group cut their price objective on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Compass Point boosted their price objective on shares of Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $46.02.

Truist Financial Trading Up 1.0 %

Shares of TFC traded up $0.43 during mid-day trading on Tuesday, hitting $42.50. The company had a trading volume of 811,903 shares, compared to its average volume of 8,174,761. The business’s 50-day simple moving average is $42.79 and its 200-day simple moving average is $40.77. 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 1-year low of $28.93 and a 1-year high of $45.31.

Truist Financial Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.89%. Truist Financial’s payout ratio is -145.45%.

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.