SG Americas Securities LLC Sells 189,913 Shares of Truist Financial Co. (NYSE:TFC)

SG Americas Securities LLC decreased its stake in shares of Truist Financial Co. (NYSE:TFC) by 82.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 40,499 shares of the insurance provider’s stock after selling 189,913 shares during the quarter. SG Americas Securities LLC’s holdings in Truist Financial were worth $1,732,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Elo Mutual Pension Insurance Co grew its position in Truist Financial by 4.3% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 116,290 shares of the insurance provider’s stock worth $4,293,000 after acquiring an additional 4,814 shares during the last quarter. State of Tennessee Treasury Department increased its stake in shares of Truist Financial by 72.4% in the fourth quarter. State of Tennessee Treasury Department now owns 352,174 shares of the insurance provider’s stock valued at $13,002,000 after buying an additional 147,945 shares in the last quarter. Icon Wealth Advisors LLC bought a new position in shares of Truist Financial in the fourth quarter valued at about $1,046,000. Hancock Whitney Corp lifted its position in Truist Financial by 160.5% during the 4th quarter. Hancock Whitney Corp now owns 54,682 shares of the insurance provider’s stock worth $2,019,000 after buying an additional 33,693 shares in the last quarter. Finally, Ethic Inc. grew its holdings in Truist Financial by 18.5% during the 4th quarter. Ethic Inc. now owns 168,991 shares of the insurance provider’s stock worth $6,239,000 after acquiring an additional 26,414 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on TFC shares. Stephens reissued an “overweight” rating and set a $50.00 price target on shares of Truist Financial in a research note on Tuesday, September 10th. Keefe, Bruyette & Woods boosted their target price on Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Morgan Stanley raised their price target on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. Finally, Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 9th. One equities 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.45.

Insider Buying and Selling at Truist Financial

In other Truist Financial 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO William H. Rogers, Jr. acquired 57,300 shares of the stock in a transaction on Tuesday, July 23rd. The shares were purchased at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the purchase, the chief executive officer now directly owns 569,271 shares in the company, valued at approximately $25,025,153.16. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were 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. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Price Performance

NYSE:TFC opened at $42.13 on Wednesday. Truist Financial Co. has a 52-week low of $26.91 and a 52-week high of $45.31. The company has a market cap of $56.37 billion, a P/E ratio of -31.92, a P/E/G ratio of 1.92 and a beta of 1.05. 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 stock’s 50-day simple moving average is $42.54 and its 200 day simple moving average is $40.00.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.07. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.83 billion. During the same period in the previous year, the business earned $0.95 EPS. Truist Financial’s revenue for the quarter was down 15.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.94%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial’s dividend 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.