83,420 Truist Financial Corporation $TFC Shares Sold by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. reduced its position in Truist Financial Corporation (NYSE:TFC) by 10.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 733,467 shares of the insurance provider’s stock after selling 83,420 shares during the period. Eurizon Capital SGR S.p.A. owned about 0.06% of Truist Financial worth $33,962,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quest 10 Wealth Builders Inc. boosted its stake in Truist Financial by 24.6% during the 3rd quarter. Quest 10 Wealth Builders Inc. now owns 1,039 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 205 shares during the last quarter. Shepherd Financial Partners LLC increased its holdings in shares of Truist Financial by 1.8% in the 3rd quarter. Shepherd Financial Partners LLC now owns 12,032 shares of the insurance provider’s stock worth $557,000 after purchasing an additional 208 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Truist Financial by 4.0% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,456 shares of the insurance provider’s stock worth $272,000 after purchasing an additional 211 shares during the last quarter. Csenge Advisory Group raised its stake in shares of Truist Financial by 0.3% in the second quarter. Csenge Advisory Group now owns 69,426 shares of the insurance provider’s stock worth $3,459,000 after purchasing an additional 227 shares during the last quarter. Finally, Apella Capital LLC lifted its holdings in shares of Truist Financial by 0.5% during the second quarter. Apella Capital LLC now owns 43,030 shares of the insurance provider’s stock valued at $2,210,000 after purchasing an additional 232 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Michael Lyons bought 25,000 shares of the company’s stock in a transaction on Wednesday, October 28th. The shares were acquired at an average cost of $48.36 per share, with a total value of $1,209,000.00. Following the completion of the transaction, the chief executive officer owned 46,000 shares of the company’s stock, valued at approximately $2,224,560. This trade represents a 119.05% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Truist Financial Price Performance

Shares of TFC opened at $49.98 on Friday. The firm has a fifty day simple moving average of $48.31 and a two-hundred day simple moving average of $49.50. The firm has a market cap of $59.91 billion, a PE ratio of 12.88, a P/E/G ratio of 1.11 and a beta of 0.90. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.95. Truist Financial Corporation has a 1-year low of $43.13 and a 1-year high of $56.19.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, October 16th. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.01). Truist Financial had a return on equity of 10.37% and a net margin of 18.01%. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter last year, the business earned $1.04 earnings per share. The business’s quarterly revenue was up 1.3% on a year-over-year basis. On average, equities analysts anticipate that Truist Financial Corporation will post 4.66 EPS for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. Truist Financial’s dividend payout ratio is currently 53.61%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TFC. HSBC assumed coverage on Truist Financial in a research report on Monday, September 28th. They set a “buy” rating and a $61.00 price objective on the stock. Wall Street Zen lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Citigroup lowered their target price on shares of Truist Financial from $54.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 21st. TD Cowen assumed coverage on shares of Truist Financial in a research note on Thursday, October 8th. They set a “hold” rating and a $52.00 target price on the stock. Finally, Bank of America dropped their price target on shares of Truist Financial from $56.00 to $53.00 in a report on Thursday, October 8th. Nine analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $54.73.

Truist Financial Company Profile

Truist Financial Corporation (NYSE: TFC) is a financial services company headquartered in Charlotte, North Carolina. It provides banking and related services to individuals, businesses and institutions, including deposit accounts, loans, credit cards, payment services and treasury management. The company also offers wealth management, investment and mortgage services, along with commercial banking and capital markets solutions. Its operations are concentrated in the southeastern and mid-Atlantic United States, serving customers through branches, digital channels and other delivery platforms.