Investors Asset Management of Georgia Inc. GA ADV Increases Stock Holdings in Truist Financial Co. (NYSE:TFC)

Investors Asset Management of Georgia Inc. GA ADV lifted its stake in shares of Truist Financial Co. (NYSE:TFC) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,404 shares of the insurance provider’s stock after buying an additional 227 shares during the period. Truist Financial comprises about 0.8% of Investors Asset Management of Georgia Inc. GA ADV’s holdings, making the stock its 27th largest position. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Truist Financial were worth $1,607,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in TFC. Amundi purchased a new position in shares of Truist Financial during the second quarter valued at approximately $390,832,000. Balyasny Asset Management LLC purchased a new position in shares of Truist Financial during the second quarter valued at approximately $111,138,000. UBS Asset Management Americas Inc. boosted its position in shares of Truist Financial by 39.1% during the second quarter. UBS Asset Management Americas Inc. now owns 6,577,960 shares of the insurance provider’s stock valued at $365,077,000 after buying an additional 1,850,288 shares during the last quarter. Mn Services Vermogensbeheer B.V. purchased a new position in Truist Financial in the second quarter worth $46,233,000. Finally, Diamond Hill Capital Management Inc. boosted its position in Truist Financial by 12.6% in the second quarter. Diamond Hill Capital Management Inc. now owns 7,842,628 shares of the insurance provider’s stock worth $435,266,000 after purchasing an additional 878,496 shares during the last quarter. 70.67% of the stock is currently owned by institutional investors.

In related news, Director Kelly S. King sold 71,611 shares of the firm’s stock in a transaction on Monday, October 18th. The stock was sold at an average price of $61.98, for a total value of $4,438,449.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Daryl N. Bible sold 108,369 shares of the firm’s stock in a transaction on Monday, October 18th. The stock was sold at an average price of $61.82, for a total value of $6,699,371.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 224,718 shares of company stock valued at $13,933,876. Insiders own 0.37% of the company’s stock.

TFC has been the topic of several research analyst reports. Wolfe Research cut Truist Financial from an “outperform” rating to an “underperform” rating and cut their price objective for the stock from $71.00 to $64.00 in a research report on Tuesday, October 5th. Citigroup raised Truist Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $63.00 to $72.00 in a research report on Friday, October 1st. They noted that the move was a valuation call. Finally, Jefferies Financial Group boosted their target price on Truist Financial from $61.00 to $66.00 and gave the company a “hold” rating in a research note on Monday, October 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Truist Financial presently has an average rating of “Hold” and an average target price of $63.07.

Shares of TFC opened at $62.89 on Thursday. The firm has a market cap of $83.95 billion, a P/E ratio of 14.83, a P/E/G ratio of 1.32 and a beta of 1.30. The stock has a 50 day simple moving average of $61.33 and a two-hundred day simple moving average of $58.48. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.77 and a quick ratio of 0.75. Truist Financial Co. has a 1 year low of $45.44 and a 1 year high of $65.42.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, October 14th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.22. The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.53 billion. Truist Financial had a return on equity of 12.11% and a net margin of 25.94%. Truist Financial’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 earnings per share. On average, equities analysts anticipate that Truist Financial Co. will post 5.42 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 1st. Stockholders of record on Friday, November 12th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Wednesday, November 10th. Truist Financial’s dividend payout ratio (DPR) is presently 45.28%.

Truist Financial Company Profile

Truist Financial Corp. operates as a financial holding company, which engages in the provision of banking services to individuals, businesses and municipalities. The firm offers a variety of loans and lease financing to individuals and entities, including insurance premium financing, permanent commercial real estate financing arrangements, loan servicing for third-party investors, direct consumer finance loans to individuals, credit card lending, automobile financing and equipment financing.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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