Truist Financial Corporation $TFC Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its position in shares of Truist Financial Corporation (NYSE:TFC) by 13.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 392,974 shares of the insurance provider’s stock after selling 59,412 shares during the period. Nisa Investment Advisors LLC’s holdings in Truist Financial were worth $17,967,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Aspect Partners LLC raised its position in shares of Truist Financial by 71.5% during the 2nd quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock valued at $28,000 after buying an additional 268 shares during the period. Princeton Global Asset Management LLC purchased a new position in Truist Financial in the second quarter worth approximately $30,000. Capital A Wealth Management LLC increased its stake in Truist Financial by 1,189.5% during the second quarter. Capital A Wealth Management LLC now owns 735 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 678 shares during the last quarter. Darwin Wealth Management LLC increased its stake in Truist Financial by 631.6% during the third quarter. Darwin Wealth Management LLC now owns 695 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 600 shares during the last quarter. Finally, Ramirez Asset Management Inc. raised its position in Truist Financial by 60.0% in the second quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 5,160 shares of Truist Financial stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $46.45, for a total value of $239,682.00. Following the completion of the transaction, the director owned 10,153 shares in the company, valued at approximately $471,606.85. This trade represents a 33.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is owned by corporate insiders.

Truist Financial Trading Down 0.7%

NYSE TFC opened at $50.62 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $64.75 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 0.97 and a beta of 0.89. The firm has a 50 day simple moving average of $47.70 and a 200-day simple moving average of $45.74. Truist Financial Corporation has a one year low of $33.56 and a one year high of $51.51.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, topping the consensus estimate of $0.99 by $0.05. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.20 billion. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.97 earnings per share. Equities research analysts anticipate that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial declared that its Board of Directors has initiated a share repurchase program on Tuesday, December 16th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the insurance provider to reacquire up to 15.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 14th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, November 14th. This represents a $2.08 annualized dividend and a yield of 4.1%. Truist Financial’s dividend payout ratio is 55.91%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TFC. Robert W. Baird reiterated a “neutral” rating and set a $52.00 price target on shares of Truist Financial in a report on Thursday, December 11th. Baird R W lowered shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. The Goldman Sachs Group reiterated a “buy” rating and set a $58.00 price target on shares of Truist Financial in a research report on Tuesday. Morgan Stanley upped their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 17th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Truist Financial from $49.00 to $53.00 and gave the company a “market perform” rating in a report on Wednesday, December 17th. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $52.80.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.