Natixis Decreases Stake in Truist Financial Corporation $TFC

Natixis lessened its holdings in Truist Financial Corporation (NYSE:TFC) by 74.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 115,444 shares of the insurance provider’s stock after selling 340,871 shares during the period. Natixis’ holdings in Truist Financial were worth $4,963,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TFC. Foster Victor Wealth Advisors LLC lifted its holdings in Truist Financial by 0.4% during the second quarter. Foster Victor Wealth Advisors LLC now owns 62,087 shares of the insurance provider’s stock worth $2,804,000 after acquiring an additional 242 shares during the period. MGO One Seven LLC grew its stake in Truist Financial by 0.9% in the 2nd quarter. MGO One Seven LLC now owns 28,849 shares of the insurance provider’s stock valued at $1,240,000 after purchasing an additional 246 shares during the period. Klingman & Associates LLC increased its position in shares of Truist Financial by 2.2% during the 1st quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider’s stock valued at $484,000 after purchasing an additional 248 shares during the last quarter. Haverford Trust Co raised its stake in shares of Truist Financial by 3.5% during the 1st quarter. Haverford Trust Co now owns 7,751 shares of the insurance provider’s stock worth $319,000 after purchasing an additional 262 shares during the period. Finally, Keystone Financial Group Inc. raised its stake in shares of Truist Financial by 1.3% during the 2nd quarter. Keystone Financial Group Inc. now owns 21,283 shares of the insurance provider’s stock worth $942,000 after purchasing an additional 266 shares during the period. 71.28% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 5,160 shares of the firm’s 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 $471,606.85. This trade represents a 33.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TFC has been the subject of several research reports. UBS Group set a $55.00 price target on shares of Truist Financial in a research report on Tuesday, October 21st. Wells Fargo & Company reissued an “equal weight” rating and set a $47.00 target price on shares of Truist Financial in a research report on Thursday, August 21st. Morgan Stanley raised their price target on shares of Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, October 20th. Evercore ISI upped their price objective on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and a consensus price target of $49.60.

Truist Financial Stock Performance

Shares of TFC stock opened at $47.89 on Wednesday. The firm’s 50 day moving average is $44.87 and its 200 day moving average is $44.14. The stock has a market capitalization of $61.26 billion, a P/E ratio of 12.87, a PEG ratio of 1.03 and a beta of 0.90. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $48.55. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70.

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

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 14th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Friday, November 14th. Truist Financial’s payout ratio is presently 55.91%.

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.