Fort Washington Investment Advisors Inc. OH Has $51.40 Million Stock Holdings in Truist Financial Corporation $TFC

Fort Washington Investment Advisors Inc. OH trimmed its position in Truist Financial Corporation (NYSE:TFC) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,124,191 shares of the insurance provider’s stock after selling 16,800 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Truist Financial were worth $51,398,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TFC. Aspect Partners LLC lifted its position in Truist Financial by 71.5% during the 2nd quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 268 shares during the period. Princeton Global Asset Management LLC bought a new stake in shares of Truist Financial during the second quarter worth approximately $30,000. Capital A Wealth Management LLC raised its stake in shares of Truist Financial by 1,189.5% during the second quarter. Capital A Wealth Management LLC now owns 735 shares of the insurance provider’s stock worth $32,000 after buying an additional 678 shares during the last quarter. Darwin Wealth Management LLC lifted its holdings in Truist Financial by 631.6% in the third quarter. Darwin Wealth Management LLC now owns 695 shares of the insurance provider’s stock valued at $32,000 after buying an additional 600 shares during the period. Finally, Ramirez Asset Management Inc. boosted its stake in Truist Financial by 60.0% in the second quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 300 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Insider Activity

In related news, Director K. David Jr. Boyer sold 5,160 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $46.45, for a total transaction of $239,682.00. Following the sale, the director directly owned 10,153 shares in the company, valued at $471,606.85. This trade represents a 33.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TFC has been the subject of several recent research reports. Morgan Stanley upped their target price on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 17th. UBS Group set a $55.00 price objective on Truist Financial in a report on Tuesday, October 21st. TD Cowen upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Tuesday, October 21st. Wall Street Zen lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Truist Financial from $49.00 to $53.00 and gave the company a “market perform” rating in a research report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $49.93.

Truist Financial Stock Down 1.2%

Shares of Truist Financial stock opened at $50.01 on Tuesday. The company has a market capitalization of $63.97 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 1.10 and a beta of 0.90. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50-day moving average of $46.61 and a two-hundred day moving average of $45.16. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $50.86.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.05. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.20 billion. During the same period in the previous year, the firm earned $0.97 EPS. Truist Financial’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, equities analysts predict that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial announced that its board has initiated a stock buyback plan on Tuesday, December 16th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to reacquire up to 15.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Friday, November 14th. Truist Financial’s dividend payout ratio is 55.91%.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.