Hexagon Capital Partners LLC Grows Stake in Truist Financial Co. (NYSE:TFC)

Hexagon Capital Partners LLC boosted its position in shares of Truist Financial Co. (NYSE:TFC) by 43.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,319 shares of the insurance provider’s stock after purchasing an additional 2,207 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Truist Financial were worth $313,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Capital International Investors increased its holdings in Truist Financial by 93.7% during the 1st quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock valued at $453,854,000 after acquiring an additional 5,632,493 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Truist Financial by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock worth $401,663,000 after purchasing an additional 103,565 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Truist Financial by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after purchasing an additional 299,196 shares during the last quarter. Truist Financial Corp lifted its stake in Truist Financial by 6.7% in the 2nd quarter. Truist Financial Corp now owns 4,931,783 shares of the insurance provider’s stock valued at $191,600,000 after buying an additional 311,523 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in Truist Financial by 48.9% during the 1st quarter. Jennison Associates LLC now owns 3,840,374 shares of the insurance provider’s stock valued at $149,698,000 after buying an additional 1,261,598 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Up 1.2 %

Shares of TFC stock opened at $42.63 on Thursday. The firm has a market capitalization of $57.09 billion, a PE ratio of -32.30, a price-to-earnings-growth ratio of 1.95 and a beta of 1.05. The stock has a fifty day moving average of $42.49 and a two-hundred day moving average of $40.03. Truist Financial Co. has a 1 year low of $26.95 and a 1 year high of $45.31. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last announced its earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.84 by $0.07. The business 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%. Truist Financial’s revenue was down 15.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.95 earnings per share. As a group, research analysts expect that Truist Financial Co. will post 3.55 EPS for the current year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.88%. Truist Financial’s dividend payout ratio is currently -157.58%.

Insider Activity at Truist Financial

In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were 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 SEC, which is available through the SEC website. In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William H. Rogers, Jr. bought 57,300 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was acquired at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the acquisition, the chief executive officer now directly owns 569,271 shares in the company, valued at $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 insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on TFC shares. Stephens reissued an “overweight” rating and issued a $50.00 target price on shares of Truist Financial in a research note on Tuesday, September 10th. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective on the stock. in a report on Wednesday, July 17th. Bank of America lifted their target price 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. Citigroup cut Truist Financial from a “buy” rating to a “neutral” rating and upped their price target for the stock from $45.00 to $47.00 in a report on Wednesday, July 24th. Finally, Royal Bank of Canada raised their target price on Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.45.

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.