GWM Advisors LLC Has $1.14 Million Stake in Truist Financial Corporation (NYSE:TFC)

GWM Advisors LLC lowered its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 8.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,408 shares of the insurance provider’s stock after selling 2,631 shares during the quarter. GWM Advisors LLC’s holdings in Truist Financial were worth $1,141,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Truist Financial by 1.8% during the first quarter. BlackRock Inc. now owns 93,876,594 shares of the insurance provider’s stock worth $2,895,152,000 after purchasing an additional 1,701,248 shares during the period. Capital International Investors raised its position in shares of Truist Financial by 121.4% during the first quarter. Capital International Investors now owns 63,154,235 shares of the insurance provider’s stock worth $1,947,677,000 after purchasing an additional 34,627,221 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Truist Financial by 6.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 35,568,360 shares of the insurance provider’s stock worth $1,096,929,000 after purchasing an additional 2,238,236 shares during the period. Wellington Management Group LLP raised its position in shares of Truist Financial by 32.0% during the first quarter. Wellington Management Group LLP now owns 19,923,307 shares of the insurance provider’s stock worth $614,435,000 after purchasing an additional 4,828,457 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Truist Financial by 1.6% during the first quarter. Geode Capital Management LLC now owns 18,825,502 shares of the insurance provider’s stock worth $579,785,000 after purchasing an additional 296,910 shares during the period. 72.03% of the stock is currently owned by institutional investors.

TFC stock opened at $37.46 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.95 and a debt-to-equity ratio of 0.68. The business has a 50 day moving average price of $37.31 and a two-hundred day moving average price of $40.36. The company has a market cap of $50.48 billion, a price-to-earnings ratio of 9.65, a P/E/G ratio of 1.37 and a beta of 1.45. Truist Financial Corporation has a twelve month low of $24.01 and a twelve month high of $56.92.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, July 16th. The insurance provider reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.18. Truist Financial had a return on equity of 8.07% and a net margin of 17.32%. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.53 billion. During the same period in the previous year, the company posted $1.09 EPS. On average, equities research analysts anticipate that Truist Financial Corporation will post 3.32 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a dividend of $0.45 per share. The ex-dividend date is Thursday, August 13th. This represents a $1.80 annualized dividend and a dividend yield of 4.81%. Truist Financial’s dividend payout ratio is currently 41.19%.

In other news, VP Brantley J. Standridge sold 4,800 shares of Truist Financial stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $31.82, for a total transaction of $152,736.00. Following the completion of the transaction, the vice president now directly owns 14,010 shares in the company, valued at approximately $445,798.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ellen Koebler sold 10,000 shares of Truist Financial stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $31.97, for a total value of $319,700.00. Following the transaction, the insider now owns 16,859 shares of the company’s stock, valued at $538,982.23. The disclosure for this sale can be found here. Insiders have sold a total of 101,087 shares of company stock valued at $3,639,169 over the last quarter. 0.35% of the stock is currently owned by corporate insiders.

TFC has been the topic of a number of research analyst reports. Piper Sandler raised Truist Financial from a “neutral” rating to an “overweight” rating and set a $41.00 price target on the stock in a research report on Tuesday, April 21st. Argus decreased their price objective on Truist Financial from $65.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Credit Suisse Group decreased their price objective on Truist Financial from $55.00 to $42.00 and set a “neutral” rating for the company in a report on Monday, April 6th. Compass Point increased their price objective on Truist Financial from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, Cfra decreased their price objective on Truist Financial from $56.00 to $39.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $46.55.

Truist Financial Company Profile

Truist Financial Corp., formerly BB&T, is a bank holding company based in Charlotte, North Carolina. Its bank operates 2,049 branches in 15 states and Washington, DC, and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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