Centaurus Financial Inc. Grows Position in Truist Financial Co. (NYSE:TFC)

Centaurus Financial Inc. lifted its stake in Truist Financial Co. (NYSE:TFC – Get Rating) by 12.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 9,136 shares of the insurance provider’s stock after buying an additional 1,008 shares during the quarter. Centaurus Financial Inc.’s holdings in Truist Financial were worth $398,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Fairfield Bush & CO. purchased a new position in shares of Truist Financial in the first quarter worth $25,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of Truist Financial by 555.8% in the third quarter. Newbridge Financial Services Group Inc. now owns 623 shares of the insurance provider’s stock worth $27,000 after buying an additional 528 shares in the last quarter. Webster Bank N. A. raised its stake in Truist Financial by 88.5% during the third quarter. Webster Bank N. A. now owns 639 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 300 shares in the last quarter. Western Pacific Wealth Management LP purchased a new stake in Truist Financial during the third quarter valued at $35,000. Finally, NuWave Investment Management LLC purchased a new stake in Truist Financial during the third quarter valued at $40,000. Hedge funds and other institutional investors own 72.49% of the company’s stock.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of recent research reports. Wells Fargo & Company decreased their price target on shares of Truist Financial to $57.00 in a research note on Wednesday, December 14th. Jefferies Financial Group raised shares of Truist Financial from a “hold” rating to a “buy” rating in a research note on Monday, January 9th. Morgan Stanley decreased their price target on shares of Truist Financial from $59.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Friday, January 20th. TheStreet raised shares of Truist Financial from a “c+” rating to a “b-” rating in a research note on Monday, January 23rd. Finally, Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Truist Financial has a consensus rating of “Hold” and a consensus target price of $51.58.

Insider Transactions at Truist Financial

In other Truist Financial news, Director David M. Ratcliffe bought 13,125 shares of the company’s stock in a transaction on Friday, March 10th. The shares were bought at an average cost of $38.08 per share, for a total transaction of $499,800.00. Following the acquisition, the director now directly owns 39,025 shares in the company, valued at $1,486,072. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Truist Financial news, Director David M. Ratcliffe bought 13,125 shares of the company’s stock in a transaction on Friday, March 10th. The shares were bought at an average cost of $38.08 per share, for a total transaction of $499,800.00. Following the acquisition, the director now directly owns 39,025 shares in the company, valued at $1,486,072. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Hugh S. Cummins III sold 35,229 shares of the 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 transaction, the insider now owns 307,069 shares in the company, valued at $15,061,734.45. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Truist Financial Trading Down 7.2 %

NYSE TFC opened at $30.56 on Friday. The company’s 50-day moving average price is $45.85 and its 200-day moving average price is $44.97. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock has a market cap of $40.59 billion, a PE ratio of 6.90, a PEG ratio of 1.34 and a beta of 1.10. Truist Financial Co. has a 12 month low of $28.70 and a 12 month high of $61.10.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Friday, February 10th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.81%. The ex-dividend date of this dividend was Thursday, February 9th. Truist Financial’s payout ratio is presently 46.95%.

Truist Financial Profile

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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.