Vanguard Personalized Indexing Management LLC Has $5.52 Million Position in Truist Financial Corporation $TFC

Vanguard Personalized Indexing Management LLC reduced its holdings in Truist Financial Corporation (NYSE:TFC) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 128,417 shares of the insurance provider’s stock after selling 2,313 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Truist Financial were worth $5,524,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TFC. Wealth Preservation Advisors LLC acquired a new stake in Truist Financial in the 1st quarter valued at $25,000. Centennial Bank AR increased its stake in Truist Financial by 360.2% in the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock valued at $30,000 after buying an additional 580 shares during the last quarter. Motco increased its stake in Truist Financial by 435.6% in the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after buying an additional 649 shares during the last quarter. Ramirez Asset Management Inc. increased its stake in Truist Financial by 60.0% in the 2nd quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock valued at $34,000 after buying an additional 300 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its stake in Truist Financial by 115.3% in the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock valued at $36,000 after buying an additional 468 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Performance

Shares of TFC stock opened at $42.92 on Tuesday. The company has a market capitalization of $55.34 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 1.35 and a beta of 0.88. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86. The company has a 50-day simple moving average of $45.15 and a 200 day simple moving average of $42.19. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, July 18th. The insurance provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). The company had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The business’s quarterly revenue was down 406.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 EPS. On average, sell-side analysts predict that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.8%. Truist Financial’s payout ratio is currently 56.68%.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of analyst reports. Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $44.00 to $55.00 in a research report on Thursday, June 26th. Keefe, Bruyette & Woods downgraded shares of Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price objective for the company. in a research report on Wednesday, July 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating on shares of Truist Financial in a research report on Tuesday, October 7th. Finally, Morgan Stanley lifted their price objective on shares of Truist Financial from $48.00 to $54.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.89.

Insider Transactions at Truist Financial

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total value of $566,682.60. Following the completion of the sale, the insider owned 500 shares of the company’s stock, valued at $22,595. The trade was a 96.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.14% of the stock is owned by corporate insiders.

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.