Chesley Taft & Associates LLC Has $5.33 Million Holdings in Truist Financial Co. (NYSE:TFC)

Chesley Taft & Associates LLC trimmed its stake in Truist Financial Co. (NYSE:TFC) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 124,531 shares of the insurance provider’s stock after selling 705 shares during the period. Chesley Taft & Associates LLC’s holdings in Truist Financial were worth $5,326,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Crewe Advisors LLC bought a new stake in shares of Truist Financial during the 1st quarter worth $27,000. Opal Wealth Advisors LLC bought a new stake in Truist Financial in the first quarter worth $29,000. MFA Wealth Advisors LLC bought a new stake in Truist Financial in the 2nd quarter worth $30,000. Y.D. More Investments Ltd bought a new position in Truist Financial during the 2nd quarter valued at approximately $31,000. Finally, Rise Advisors LLC purchased a new position in shares of Truist Financial during the first quarter valued at about $32,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on TFC shares. Argus upped their target price on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group increased their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. StockNews.com cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 23rd. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Finally, Morgan Stanley upped their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. One research 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’s stock. Based on data from MarketBeat.com, Truist Financial has a consensus rating of “Hold” and a consensus price target of $45.45.

Insider Activity at Truist Financial

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 value of $295,208.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Cynthia B. Powell sold 6,688 shares of the firm’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William H. Rogers, Jr. purchased 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 completion of the purchase, the chief executive officer now owns 569,271 shares in the company, valued at approximately $25,025,153.16. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is owned by company insiders.

Truist Financial Price Performance

NYSE TFC opened at $42.01 on Tuesday. The firm’s 50 day moving average is $42.59 and its 200-day moving average is $39.97. The company has a market capitalization of $56.21 billion, a PE ratio of -31.82, a price-to-earnings-growth ratio of 1.92 and a beta of 1.05. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 12-month low of $26.91 and a 12-month high of $45.31.

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

Truist Financial Announces Dividend

The firm 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 4.95%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend payout ratio is presently -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.