Truist Financial Co. (NYSE:TFC) Shares Bought by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 10.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 194,219 shares of the insurance provider’s stock after acquiring an additional 17,968 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Truist Financial were worth $7,545,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Corient Private Wealth LLC increased its position in shares of Truist Financial by 6.5% in the fourth quarter. Corient Private Wealth LLC now owns 609,011 shares of the insurance provider’s stock valued at $22,485,000 after buying an additional 37,332 shares in the last quarter. Quest Partners LLC acquired a new position in Truist Financial during the fourth quarter worth about $455,000. Assetmark Inc. raised its position in Truist Financial by 8.6% during the fourth quarter. Assetmark Inc. now owns 32,043 shares of the insurance provider’s stock worth $1,183,000 after acquiring an additional 2,538 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Truist Financial by 9.6% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 377,760 shares of the insurance provider’s stock valued at $13,947,000 after purchasing an additional 32,983 shares during the last quarter. Finally, TCW Group Inc. purchased a new position in shares of Truist Financial during the 4th quarter worth approximately $785,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity

In other news, CEO William H. Rogers, Jr. bought 57,300 shares of the firm’s stock in a transaction dated 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 completion of the purchase, the chief executive officer now owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other Truist Financial news, CEO William H. Rogers, Jr. purchased 57,300 shares of Truist Financial stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the acquisition, the chief executive officer now owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction that occurred on 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. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on TFC. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research note on Wednesday, July 17th. Barclays increased their price objective on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada upped their target price on shares of Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Stephens reiterated an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a report on Tuesday, September 10th. Finally, StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.45.

Truist Financial Stock Performance

Shares of TFC stock opened at $42.32 on Friday. 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 company has a market cap of $56.63 billion, a PE ratio of -32.06, a P/E/G ratio of 1.98 and a beta of 1.06. The company’s fifty day simple moving average is $42.81 and its 200-day simple moving average is $39.53. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $45.31.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The company had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter in the previous year, the firm posted $0.95 earnings per share. The firm’s quarterly revenue was down 15.9% on a year-over-year basis. As a group, equities research analysts anticipate that Truist Financial Co. will post 3.55 EPS for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.91%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Truist Financial Company 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.