King Luther Capital Management Corp Has $2.56 Million Stock Holdings in Truist Financial Co. (NYSE:TFC)

King Luther Capital Management Corp lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 3.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,796 shares of the insurance provider’s stock after selling 2,280 shares during the quarter. King Luther Capital Management Corp’s holdings in Truist Financial were worth $2,556,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in 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 purchasing an additional 5,632,493 shares in the last quarter. Parnassus Investments LLC bought a new stake in shares of Truist Financial during the fourth quarter worth $95,049,000. Azora Capital LP acquired a new stake in shares of Truist Financial in the fourth quarter valued at $72,498,000. Jennison Associates LLC raised its holdings in shares of Truist Financial by 48.9% in the first 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. Finally, Morningstar Investment Services LLC lifted its position in Truist Financial by 94.5% during the 4th quarter. Morningstar Investment Services LLC now owns 1,753,129 shares of the insurance provider’s stock worth $65,374,000 after buying an additional 851,725 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

TFC has been the subject of a number of research analyst reports. Royal Bank of Canada boosted their target price on shares of Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $45.00 to $47.00 in a report on Wednesday, July 24th. The Goldman Sachs Group lifted their target price on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Bank of America upped their price target on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Argus lifted their price objective on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $45.45.

Insider Buying and Selling at Truist Financial

In other news, VP Cynthia B. Powell sold 6,688 shares of the firm’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 transaction of $295,208.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Cynthia B. Powell sold 6,688 shares of the 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of the stock in a transaction on 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 completion of the purchase, the chief executive officer now directly owns 569,271 shares in the company, valued at approximately $25,025,153.16. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC stock opened at $42.32 on Friday. The company has a market capitalization of $56.63 billion, a P/E ratio of -32.06, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06. Truist Financial Co. has a 52 week low of $26.57 and a 52 week 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. The company’s 50 day moving average price is $42.81 and its two-hundred day moving average price is $39.54.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.95 EPS. On average, analysts expect that Truist Financial Co. will post 3.55 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

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

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.