Point72 Europe London LLP Has $9.81 Million Holdings in Truist Financial Co. (NYSE:TFC)

Point72 Europe London LLP trimmed its stake in shares of Truist Financial Co. (NYSE:TFC) by 4.7% during the third quarter, Holdings Channel.com reports. The firm owned 229,290 shares of the insurance provider’s stock after selling 11,200 shares during the period. Point72 Europe London LLP’s holdings in Truist Financial were worth $9,807,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Valley Wealth Managers Inc. bought a new position in Truist Financial in the 3rd quarter valued at $26,000. MFA Wealth Advisors LLC bought a new position in Truist Financial in the second quarter valued at about $30,000. Y.D. More Investments Ltd bought a new stake in Truist Financial during the 2nd quarter worth about $31,000. MidAtlantic Capital Management Inc. acquired a new position in Truist Financial during the 3rd quarter valued at about $32,000. Finally, Fortitude Family Office LLC grew its position in shares of Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after buying an additional 678 shares during the period. 71.28% of the stock is owned by institutional investors.

Insider Activity

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the transaction, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of recent research reports. Compass Point raised their price objective on shares of Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. UBS Group lifted their price objective on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada upped their price target on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group lifted their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $47.17.

Truist Financial Price Performance

Shares of TFC opened at $47.68 on Friday. The company has a 50 day moving average of $44.23 and a 200-day moving average of $41.81. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $63.30 billion, a P/E ratio of -33.34, a P/E/G ratio of 1.96 and a beta of 1.05. Truist Financial Co. has a twelve month low of $31.96 and a twelve month high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. As a group, equities research analysts forecast that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is currently -145.45%.

Truist Financial Profile

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.