13,033 Truist Financial Corporation $TFC Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC lowered its position in shares of Truist Financial Corporation (NYSE:TFC) by 93.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 982 shares of the insurance provider’s stock after selling 13,033 shares during the period. International Assets Investment Management LLC’s holdings in Truist Financial were worth $45,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. N.E.W. Advisory Services LLC bought a new position in shares of Truist Financial in the second quarter worth $30,000. Navigoe LLC bought a new position in Truist Financial in the second quarter valued at $30,000. Wilkerson Advisory Group LLC increased its stake in Truist Financial by 104.0% in the first quarter. Wilkerson Advisory Group LLC now owns 826 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 421 shares during the last quarter. Elevation Wealth Partners LLC raised its holdings in shares of Truist Financial by 44.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 892 shares of the insurance provider’s stock valued at $44,000 after buying an additional 275 shares in the last quarter. Finally, Latitude Advisors LLC purchased a new stake in shares of Truist Financial in the 3rd quarter valued at $45,000. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, CEO Michael Lyons acquired 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 28th. The shares were bought at an average price of $48.36 per share, with a total value of $1,209,000.00. Following the completion of the acquisition, the chief executive officer owned 46,000 shares in the company, valued at $2,224,560. This represents a 119.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is owned by company insiders.

Truist Financial Stock Performance

NYSE TFC traded down $0.36 during trading hours on Friday, hitting $49.48. The company’s stock had a trading volume of 5,760,433 shares, compared to its average volume of 8,307,338. Truist Financial Corporation has a 12 month low of $43.13 and a 12 month high of $56.19. The company’s 50 day simple moving average is $48.34 and its two-hundred day simple moving average is $49.50. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $59.30 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 1.10 and a beta of 0.90.

Truist Financial (NYSE:TFC) last announced 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 net margin of 18.01% and a return on equity of 10.37%. The company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the previous year, the business earned $1.04 EPS. The business’s revenue was up 1.3% compared to the same quarter last year. As a group, sell-side analysts expect that Truist Financial Corporation will post 4.66 EPS for the current fiscal 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 given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Friday, November 13th. Truist Financial’s dividend payout ratio (DPR) is presently 53.61%.

Wall Street Analyst Weigh In

TFC has been the topic of a number of research analyst reports. Robert W. Baird boosted their price target on Truist Financial from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Wolfe Research started coverage on Truist Financial in a research note on Tuesday, October 27th. They issued a “peer perform” rating on the stock. Royal Bank Of Canada dropped their price target on shares of Truist Financial from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Monday, October 19th. TD Cowen started coverage on shares of Truist Financial in a report on Thursday, October 8th. They issued a “hold” rating and a $52.00 target price for the company. Finally, Wells Fargo & Company set a $52.00 target price on shares of Truist Financial in a research note on Thursday, October 8th. Nine research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Truist Financial presently has a consensus rating of “Hold” and an average price target of $54.73.

About Truist Financial

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.

Truist was formed in 2019 through the merger of BB&T Corporation and SunTrust Banks.