Hazlett Burt & Watson Inc. Trims Position in Truist Financial Co. (NYSE:TFC)

Hazlett Burt & Watson Inc. trimmed its stake in shares of Truist Financial Co. (NYSE:TFC) by 3.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,531 shares of the insurance provider’s stock after selling 386 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Truist Financial were worth $494,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Crewe Advisors LLC purchased a new position in Truist Financial during the first quarter valued at $27,000. MFA Wealth Advisors LLC purchased a new position in Truist Financial during the second quarter valued at $30,000. Y.D. More Investments Ltd purchased a new position in Truist Financial during the second quarter valued at $31,000. Fortitude Family Office LLC grew its stake in Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 678 shares in the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in Truist Financial during the second quarter valued at $38,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Trading Down 0.9 %

TFC traded down $0.39 on Monday, reaching $42.43. 934,196 shares of the company traded hands, compared to its average volume of 8,188,729. Truist Financial Co. has a one year low of $28.93 and a one year high of $45.31. The firm has a fifty day simple moving average of $42.84 and a two-hundred day simple moving average of $40.72. The company has a market cap of $56.82 billion, a P/E ratio of -29.94, a price-to-earnings-growth ratio of 1.78 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.

Truist Financial Dividend Announcement

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 issued a dividend of $0.52 per share. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.90%. Truist Financial’s payout ratio is -145.45%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. increased 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. Compass Point increased their price objective on shares of Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. The Goldman Sachs Group lowered their price objective on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Finally, UBS Group increased their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Truist Financial has an average rating of “Hold” and an average target price of $46.02.

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.