Altrius Capital Management Inc Sells 280 Shares of Truist Financial Co. (NYSE:TFC)

Altrius Capital Management Inc lowered its holdings in Truist Financial Co. (NYSE:TFC) by 4.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,153 shares of the insurance provider’s stock after selling 280 shares during the period. Altrius Capital Management Inc’s holdings in Truist Financial were worth $239,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TFC. Seven Eight Capital LP bought a new position in shares of Truist Financial in the 2nd quarter valued at about $434,000. Hsbc Holdings PLC grew its stake in Truist Financial by 2.0% in the second quarter. Hsbc Holdings PLC now owns 2,986,841 shares of the insurance provider’s stock valued at $115,774,000 after purchasing an additional 58,463 shares in the last quarter. Elo Mutual Pension Insurance Co grew its stake in Truist Financial by 65.3% in the second quarter. Elo Mutual Pension Insurance Co now owns 114,103 shares of the insurance provider’s stock valued at $4,433,000 after purchasing an additional 45,064 shares in the last quarter. Waterloo Capital L.P. increased its position in shares of Truist Financial by 9.3% during the 2nd quarter. Waterloo Capital L.P. now owns 14,412 shares of the insurance provider’s stock worth $560,000 after purchasing an additional 1,225 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of Truist Financial by 14.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 95,421 shares of the insurance provider’s stock worth $3,553,000 after purchasing an additional 12,166 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO William H. Rogers, Jr. purchased 57,300 shares of Truist Financial stock in a transaction that occurred on Tuesday, July 23rd. The shares were acquired at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the transaction, the chief executive officer now owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Truist Financial news, CEO William H. Rogers, Jr. acquired 57,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the transaction, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Trading Up 0.3 %

Shares of TFC stock opened at $42.02 on Thursday. The stock has a 50 day simple moving average of $42.73 and a 200 day simple moving average of $39.46. Truist Financial Co. has a 1 year low of $26.57 and a 1 year high of $45.31. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The stock has a market cap of $56.27 billion, a P/E ratio of -31.83, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06.

Truist Financial (NYSE:TFC) last released its earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The company’s revenue was down 15.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.95 EPS. On average, research analysts predict that Truist Financial Co. will post 3.55 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.95%. The ex-dividend date was Friday, August 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. StockNews.com cut shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. Bank of America lifted their price target on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a research note on Wednesday, July 17th. Finally, Stephens reiterated an “overweight” rating and set a $50.00 target price on shares of Truist Financial in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Truist Financial has a consensus rating of “Hold” and a consensus price target of $45.45.

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.