Benjamin Edwards Inc. Has $71,000 Holdings in Truist Financial Co. (NYSE:TFC)

Benjamin Edwards Inc. boosted its position in Truist Financial Co. (NYSE:TFC) by 31.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,826 shares of the insurance provider’s stock after buying an additional 439 shares during the period. Benjamin Edwards Inc.’s holdings in Truist Financial were worth $71,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Benjamin F. Edwards & Company Inc. raised its position in shares of Truist Financial by 16.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 107,592 shares of the insurance provider’s stock worth $4,180,000 after acquiring an additional 15,262 shares in the last quarter. Wealth Advisors of Tampa Bay LLC increased its holdings in Truist Financial by 2.2% in the second quarter. Wealth Advisors of Tampa Bay LLC now owns 22,405 shares of the insurance provider’s stock worth $870,000 after purchasing an additional 490 shares in the last quarter. Trust Investment Advisors increased its holdings in Truist Financial by 4.6% in the second quarter. Trust Investment Advisors now owns 19,903 shares of the insurance provider’s stock worth $773,000 after purchasing an additional 872 shares in the last quarter. Intech Investment Management LLC lifted its stake in Truist Financial by 63.3% in the second quarter. Intech Investment Management LLC now owns 14,415 shares of the insurance provider’s stock valued at $560,000 after buying an additional 5,585 shares during the period. Finally, Seven Eight Capital LP bought a new position in shares of Truist Financial during the 2nd quarter worth approximately $434,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Down 1.4 %

Shares of TFC stock opened at $42.32 on Monday. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $45.31. The company has a 50-day simple moving average of $42.81 and a two-hundred day simple moving average of $39.56. 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 has a market capitalization of $56.63 billion, a price-to-earnings ratio of -32.06, a PEG ratio of 1.98 and a beta of 1.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $4.83 billion. During the same period last year, the business posted $0.95 earnings per share. Truist Financial’s revenue was down 15.9% on a year-over-year basis. Research analysts anticipate that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TFC shares. Royal Bank of Canada lifted their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Baird R W lowered shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods raised their target price on Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Morgan Stanley upped their price target on Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Finally, StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $45.45.

Insider Activity at Truist Financial

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 shares were sold at an average price of $44.14, for a total value of $295,208.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO William H. Rogers, Jr. acquired 57,300 shares of Truist Financial stock in a transaction on Tuesday, July 23rd. The stock was acquired at an average cost 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 in the company, valued at $25,025,153.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $295,208.32. The disclosure for this sale can be found here. 0.17% of the stock is owned by company insiders.

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.