Truist Financial Co. (NYSE:TFC) Shares Acquired by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. increased its stake in shares of Truist Financial Co. (NYSE:TFC) by 14.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,627 shares of the insurance provider’s stock after acquiring an additional 6,553 shares during the period. First Trust Direct Indexing L.P.’s holdings in Truist Financial were worth $2,208,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of TFC. Crewe Advisors LLC purchased a new position in shares of Truist Financial during the 1st quarter valued at approximately $27,000. MFA Wealth Advisors LLC purchased a new position in Truist Financial in the second quarter valued at $30,000. Y.D. More Investments Ltd acquired a new position in shares of Truist Financial in the second quarter worth about $31,000. Fortitude Family Office LLC boosted its stake in shares of Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 678 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Truist Financial during the 2nd quarter valued at about $38,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on TFC shares. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Keefe, Bruyette & Woods raised their price objective on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Barclays boosted their target price on Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, UBS Group raised their target price on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $46.02.

Truist Financial Price Performance

Shares of TFC opened at $43.31 on Thursday. Truist Financial Co. has a 52 week low of $27.88 and a 52 week high of $45.31. The firm has a market cap of $58.00 billion, a price-to-earnings ratio of -30.29, a PEG ratio of 1.77 and a beta of 1.05. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average of $42.83 and a 200-day moving average of $40.59.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.80%. Truist Financial’s dividend payout ratio is currently -145.45%.

About Truist Financial

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.