Truist Financial Co. (NYSE:TFC) Shares Sold by Ambassador Advisors LLC

Ambassador Advisors LLC lowered its position in shares of Truist Financial Co. (NYSE:TFC – Get Rating) by 24.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 7,283 shares of the insurance provider’s stock after selling 2,415 shares during the period. Ambassador Advisors LLC’s holdings in Truist Financial were worth $317,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Dynamic Advisor Solutions LLC grew its position in Truist Financial by 1.2% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 23,403 shares of the insurance provider’s stock valued at $1,019,000 after buying an additional 274 shares in the last quarter. National Pension Service grew its position in Truist Financial by 3.6% in the 3rd quarter. National Pension Service now owns 1,992,619 shares of the insurance provider’s stock valued at $87,615,000 after buying an additional 69,309 shares in the last quarter. Bailard Inc. grew its position in Truist Financial by 2.4% in the 3rd quarter. Bailard Inc. now owns 48,433 shares of the insurance provider’s stock valued at $2,109,000 after buying an additional 1,133 shares in the last quarter. Stephens Inc. AR boosted its position in shares of Truist Financial by 6.1% during the 3rd quarter. Stephens Inc. AR now owns 232,952 shares of the insurance provider’s stock valued at $10,143,000 after purchasing an additional 13,348 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of Truist Financial by 21.5% during the 2nd quarter. Captrust Financial Advisors now owns 962,495 shares of the insurance provider’s stock valued at $45,651,000 after purchasing an additional 170,239 shares in the last quarter. Institutional investors own 72.49% of the company’s stock.

Truist Financial Stock Performance

Truist Financial stock opened at $32.10 on Thursday. The stock has a 50-day simple moving average of $46.38 and a 200 day simple moving average of $45.20. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. Truist Financial Co. has a 12-month low of $30.51 and a 12-month high of $61.10. The stock has a market capitalization of $42.63 billion, a price-to-earnings ratio of 7.25, a P/E/G ratio of 1.01 and a beta of 1.10.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were given a $0.52 dividend. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $2.08 dividend on an annualized basis and a yield of 6.48%. Truist Financial’s payout ratio is 46.95%.

Insider Transactions at Truist Financial

In other news, insider Hugh S. Cummins III sold 35,229 shares of the business’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $49.05, for a total transaction of $1,727,982.45. Following the completion of the transaction, the insider now directly owns 307,069 shares in the company, valued at approximately $15,061,734.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Truist Financial news, Director David M. Ratcliffe acquired 13,125 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The stock was acquired at an average cost of $38.08 per share, for a total transaction of $499,800.00. Following the transaction, the director now owns 39,025 shares of the company’s stock, valued at $1,486,072. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hugh S. Cummins III sold 35,229 shares of the business’s stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $49.05, for a total value of $1,727,982.45. Following the completion of the transaction, the insider now owns 307,069 shares of the company’s stock, valued at $15,061,734.45. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

TFC has been the subject of several research reports. StockNews.com initiated coverage on shares of Truist Financial in a research report on Thursday. They set a “hold” rating for the company. Morgan Stanley reduced their price objective on shares of Truist Financial from $59.00 to $56.00 and set an “equal weight” rating for the company in a research note on Friday, January 20th. Deutsche Bank Aktiengesellschaft lowered shares of Truist Financial from a “buy” rating to a “hold” rating and cut their price objective for the company from $61.00 to $48.00 in a research report on Friday, January 6th. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and set a $53.00 price target on the stock in a report on Monday. Finally, Stephens downgraded shares of Truist Financial from an “overweight” rating to an “equal weight” rating and set a $53.00 price objective on the stock. in a research note on Tuesday, January 31st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $51.58.

About Truist Financial

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Truist Financial Corp. is a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. It operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, Insurance Holdings, and Other, Treasury & Corporate.