Dimensional Fund Advisors LP Purchases 168,464 Shares of Truist Financial Corporation $TFC

Dimensional Fund Advisors LP raised its position in Truist Financial Corporation (NYSE:TFC) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,492,845 shares of the insurance provider’s stock after acquiring an additional 168,464 shares during the period. Dimensional Fund Advisors LP’s holdings in Truist Financial were worth $388,300,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Montag A & Associates Inc. raised its stake in shares of Truist Financial by 3.6% in the third quarter. Montag A & Associates Inc. now owns 68,342 shares of the insurance provider’s stock valued at $3,125,000 after purchasing an additional 2,402 shares in the last quarter. Insigneo Advisory Services LLC increased its holdings in Truist Financial by 4.0% in the 3rd quarter. Insigneo Advisory Services LLC now owns 17,909 shares of the insurance provider’s stock valued at $819,000 after buying an additional 690 shares during the period. Great Lakes Retirement Inc. raised its stake in shares of Truist Financial by 7.1% in the 3rd quarter. Great Lakes Retirement Inc. now owns 29,186 shares of the insurance provider’s stock valued at $1,334,000 after buying an additional 1,939 shares in the last quarter. Griffith & Werner Inc. bought a new position in shares of Truist Financial during the 3rd quarter worth about $5,931,000. Finally, Level Four Advisory Services LLC boosted its position in shares of Truist Financial by 2.6% during the 3rd quarter. Level Four Advisory Services LLC now owns 39,890 shares of the insurance provider’s stock valued at $1,824,000 after acquiring an additional 1,014 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Down 1.3%

TFC stock opened at $48.49 on Friday. The business has a fifty day moving average price of $51.09 and a 200 day moving average price of $47.66. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.87 and a quick ratio of 0.86. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $56.19. The stock has a market capitalization of $60.57 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 0.84 and a beta of 0.87.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.09). Truist Financial had a return on equity of 9.03% and a net margin of 17.09%.The business had revenue of $4.93 billion during the quarter, compared to analyst estimates of $5.32 billion. During the same period in the prior year, the firm posted $0.91 EPS. Truist Financial’s revenue for the quarter was up 3.6% compared to the same quarter last year. Analysts expect that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial announced that its board has authorized a share repurchase program on Tuesday, December 16th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the insurance provider to reacquire up to 15.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. Truist Financial’s dividend payout ratio is currently 54.59%.

Insider Activity

In related news, CAO Cynthia B. Powell sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $52.49, for a total value of $183,715.00. Following the completion of the sale, the chief accounting officer owned 667 shares of the company’s stock, valued at $35,010.83. This trade represents a 83.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Michael Baron Maguire sold 13,000 shares of the company’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $50.13, for a total value of $651,690.00. Following the transaction, the chief financial officer directly owned 74,323 shares in the company, valued at approximately $3,725,811.99. This represents a 14.89% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

TFC has been the subject of several recent research reports. Citigroup increased their price target on shares of Truist Financial from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, December 31st. The Goldman Sachs Group reissued a “buy” rating and issued a $58.00 target price on shares of Truist Financial in a report on Tuesday, January 6th. TD Cowen boosted their price target on Truist Financial from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Piper Sandler upped their price target on Truist Financial from $50.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, January 22nd. Finally, Argus lifted their price objective on Truist Financial from $54.00 to $58.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Nine research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $56.47.

Truist Financial Profile

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.