Truist Financial Co. (NYSE:TFC) Shares Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. grew its position in Truist Financial Co. (NYSE:TFC) by 17.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 236,352 shares of the insurance provider’s stock after acquiring an additional 34,681 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Truist Financial were worth $9,182,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Crewe Advisors LLC acquired a new position in Truist Financial during the first quarter worth $27,000. Opal Wealth Advisors LLC acquired a new position in shares of Truist Financial during the first quarter valued at approximately $29,000. MFA Wealth Advisors LLC purchased a new position in shares of Truist Financial in the second quarter valued at approximately $30,000. Y.D. More Investments Ltd acquired a new stake in shares of Truist Financial in the second quarter worth approximately $31,000. Finally, Rise Advisors LLC purchased a new stake in shares of Truist Financial during the first quarter worth approximately $32,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TFC shares. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group raised their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Stephens reiterated an “overweight” rating and issued a $50.00 target price on shares of Truist Financial in a report on Tuesday, September 10th. Finally, Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and raised their price target for the stock from $45.00 to $47.00 in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial has a consensus rating of “Hold” and a consensus target price of $45.45.

Truist Financial Trading Down 2.5 %

NYSE TFC opened at $41.72 on Wednesday. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $45.31. The firm has a 50 day moving average of $42.72 and a two-hundred day moving average of $39.84. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $55.87 billion, a PE ratio of -31.61, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The business had revenue of $5.02 billion for 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 business’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.95 EPS. As a group, research analysts expect that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.99%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s payout ratio is -157.58%.

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.