Truist Financial Corporation $TFC Stock Position Increased by Baird Financial Group Inc.

Baird Financial Group Inc. boosted its position in shares of Truist Financial Corporation (NYSE:TFC) by 10.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 343,302 shares of the insurance provider’s stock after buying an additional 33,713 shares during the quarter. Baird Financial Group Inc.’s holdings in Truist Financial were worth $17,103,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Truist Financial in the second quarter valued at $4,959,834,000. California State Teachers Retirement System boosted its holdings in Truist Financial by 4,694.8% in the 2nd quarter. California State Teachers Retirement System now owns 97,097,187 shares of the insurance provider’s stock valued at $4,837,382,000 after purchasing an additional 95,072,155 shares during the period. Auto Owners Insurance Co boosted its position in shares of Truist Financial by 4,821.0% during the 4th quarter. Auto Owners Insurance Co now owns 14,172,480 shares of the insurance provider’s stock valued at $697,428,000 after acquiring an additional 13,884,480 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Truist Financial by 13,511.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider’s stock worth $474,886,000 after purchasing an additional 10,310,523 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Truist Financial in the 4th quarter worth approximately $502,340,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Morgan Stanley restated an “equal weight” rating and set a $54.00 target price (down from $62.00) on shares of Truist Financial in a research report on Monday, July 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Truist Financial in a research report on Wednesday, July 29th. Robert W. Baird boosted their price objective on Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and cut their target price for the company from $63.00 to $54.00 in a research report on Tuesday, June 30th. Seven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $55.12.

Insider Buying and Selling at Truist Financial

In other news, insider Dontá Wilson sold 13,280 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $51.85, for a total transaction of $688,568.00. Following the completion of the sale, the insider owned 56,009 shares of the company’s stock, valued at $2,904,066.65. This represents a 19.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William H. Rogers, Jr. sold 13,250 shares of the business’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $52.36, for a total transaction of $693,770.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 30,516 shares of company stock valued at $1,584,428. 0.15% of the stock is currently owned by corporate insiders.

Truist Financial Stock Up 0.2%

Shares of NYSE:TFC opened at $50.43 on Friday. The company has a 50 day moving average price of $51.55 and a two-hundred day moving average price of $49.52. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $61.61 billion, a PE ratio of 11.57, a PEG ratio of 1.06 and a beta of 0.88. Truist Financial Corporation has a 52 week low of $40.78 and a 52 week high of $56.19.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.08 by $0.15. The business had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.24 billion. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS. Analysts forecast that Truist Financial Corporation will post 4.58 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.1%. The ex-dividend date was Friday, August 14th. Truist Financial’s dividend payout ratio (DPR) is 47.71%.

Truist Financial Company Profile

Truist Financial Corporation (NYSE:TFC) is a financial services company formed through the 2019 merger of BB&T Corporation and SunTrust Banks. Headquartered in Charlotte, North Carolina, Truist operates as a major commercial bank serving consumers, businesses, and institutions primarily across the United States.

Through its consumer and business banking operations, Truist provides checking and savings accounts, credit cards, mortgages, home equity lending, personal loans, commercial lending, treasury management, and payment services.