Nicolet Advisory Services LLC Reduces Stock Holdings in Truist Financial Co. (NYSE:TFC)

Nicolet Advisory Services LLC lessened its stake in shares of Truist Financial Co. (NYSE:TFC) by 1.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 17,473 shares of the insurance provider’s stock after selling 340 shares during the period. Nicolet Advisory Services LLC’s holdings in Truist Financial were worth $725,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Assenagon Asset Management S.A. boosted its position in shares of Truist Financial by 316.4% during the third quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock valued at $90,585,000 after buying an additional 1,609,351 shares during the period. Swedbank AB bought a new stake in shares of Truist Financial during the 1st quarter worth approximately $29,957,000. LPL Financial LLC boosted its holdings in Truist Financial by 21.0% during the 3rd quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock valued at $155,288,000 after acquiring an additional 630,628 shares during the period. GW Henssler & Associates Ltd. grew its position 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 acquiring an additional 494,007 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in Truist Financial in the third quarter worth $19,860,000. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Up 2.5 %

Shares of Truist Financial stock opened at $47.96 on Friday. 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 company has a market cap of $63.67 billion, a P/E ratio of -33.54, a PEG ratio of 1.92 and a beta of 1.05. The firm’s 50 day moving average price is $43.68 and its 200-day moving average price is $41.53. Truist Financial Co. has a 52-week low of $31.23 and a 52-week high of $48.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.05 billion. On average, sell-side analysts predict that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Royal Bank of Canada boosted their price target on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, Morgan Stanley lifted their target price on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Truist Financial currently has an average rating of “Hold” and an average price target of $46.37.

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.