Rockefeller Capital Management L.P. Sells 45,728 Shares of Truist Financial Co. (NYSE:TFC)

Rockefeller Capital Management L.P. lessened its holdings in Truist Financial Co. (NYSE:TFC) by 10.9% in the third quarter, Holdings Channel reports. The firm owned 372,141 shares of the insurance provider’s stock after selling 45,728 shares during the period. Rockefeller Capital Management L.P.’s holdings in Truist Financial were worth $15,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of TFC. Assenagon Asset Management S.A. grew its stake in Truist Financial by 316.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock valued at $90,585,000 after purchasing an additional 1,609,351 shares during the period. LPL Financial LLC grew its stake in Truist Financial by 21.0% in the 3rd quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock valued at $155,288,000 after purchasing an additional 630,628 shares during the period. GW Henssler & Associates Ltd. grew its stake in Truist Financial by 4,435.3% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 505,145 shares of the insurance provider’s stock valued at $21,605,000 after purchasing an additional 494,007 shares during the period. FMR LLC lifted its position in shares of Truist Financial by 10.6% during the 3rd quarter. FMR LLC now owns 5,003,106 shares of the insurance provider’s stock valued at $213,983,000 after buying an additional 478,886 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in shares of Truist Financial during the 3rd quarter valued at $19,860,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE TFC opened at $47.68 on Monday. The firm has a market capitalization of $63.30 billion, a P/E ratio of -33.34, a P/E/G ratio of 1.96 and a beta of 1.05. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The stock’s 50-day simple moving average is $44.23 and its two-hundred day simple moving average is $41.84. Truist Financial Co. has a twelve month low of $31.96 and a twelve month high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. As a group, equities analysts anticipate that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.36%. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Insider Activity

In other news, CEO William H. Rogers, Jr. acquired 34,180 shares of Truist Financial stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, the chief executive officer now owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on TFC. UBS Group upped their price target on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. The Goldman Sachs Group upped their price target on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Wells Fargo & Company upped their price target on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Citigroup upped their price target on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and a consensus price target of $47.17.

Truist Financial Profile

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.