DRW Securities LLC Has $5.23 Million Holdings in Truist Financial Co. (NYSE:TFC)

DRW Securities LLC raised its stake in shares of Truist Financial Co. (NYSE:TFC) by 7.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 122,312 shares of the insurance provider’s stock after purchasing an additional 8,863 shares during the period. DRW Securities LLC’s holdings in Truist Financial were worth $5,231,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Independent Advisor Alliance increased its holdings in Truist Financial by 10.7% in the third quarter. Independent Advisor Alliance now owns 282,607 shares of the insurance provider’s stock worth $12,087,000 after purchasing an additional 27,408 shares in the last quarter. Douglass Winthrop Advisors LLC increased its stake in shares of Truist Financial by 5.9% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 18,980 shares of the insurance provider’s stock valued at $812,000 after acquiring an additional 1,064 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Truist Financial by 4.5% during the third quarter. Fisher Asset Management LLC now owns 7,995 shares of the insurance provider’s stock worth $342,000 after acquiring an additional 345 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Truist Financial by 12.4% in the third quarter. Daiwa Securities Group Inc. now owns 163,373 shares of the insurance provider’s stock worth $6,987,000 after purchasing an additional 17,967 shares during the period. Finally, Summit Trail Advisors LLC boosted its position in shares of Truist Financial by 7.6% during the 3rd quarter. Summit Trail Advisors LLC now owns 15,229 shares of the insurance provider’s stock worth $651,000 after purchasing an additional 1,081 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TFC has been the subject of several research reports. Royal Bank of Canada lifted 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. The Goldman Sachs Group lowered their target price on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Stephens reissued an “overweight” rating and issued a $50.00 price objective on shares of Truist Financial in a research note on Tuesday, September 10th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Compass Point raised their price objective on Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. Twelve investment 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 company has a consensus rating of “Hold” and an average target price of $46.37.

Truist Financial Stock Up 2.5 %

Shares of NYSE:TFC opened at $47.96 on Monday. The firm has a fifty day moving average price of $43.68 and a two-hundred day moving average price of $41.54. The company has a market cap of $63.67 billion, a price-to-earnings ratio of -33.54, a PEG ratio of 1.97 and a beta of 1.05. 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 one year low of $31.23 and a one year high of $48.06.

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

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.34%. The ex-dividend date is Friday, November 8th. Truist Financial’s payout ratio is -145.45%.

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.