Malaga Cove Capital LLC Has $381,000 Holdings in Truist Financial Co. (NYSE:TFC)

Malaga Cove Capital LLC raised its position in shares of Truist Financial Co. (NYSE:TFC) by 7.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,906 shares of the insurance provider’s stock after acquiring an additional 584 shares during the period. Malaga Cove Capital LLC’s holdings in Truist Financial were worth $381,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. GSA Capital Partners LLP grew its stake in shares of Truist Financial by 97.1% in the first quarter. GSA Capital Partners LLP now owns 13,191 shares of the insurance provider’s stock valued at $514,000 after acquiring an additional 6,500 shares in the last quarter. Manchester Capital Management LLC boosted its stake in shares of Truist Financial by 147.8% in the first quarter. Manchester Capital Management LLC now owns 2,823 shares of the insurance provider’s stock valued at $110,000 after buying an additional 1,684 shares during the period. CFO4Life Group LLC acquired a new stake in Truist Financial during the first quarter worth approximately $205,000. Empirical Finance LLC increased its stake in Truist Financial by 3.5% during the 1st quarter. Empirical Finance LLC now owns 47,938 shares of the insurance provider’s stock worth $1,869,000 after acquiring an additional 1,619 shares during the period. Finally, AIA Group Ltd acquired a new position in Truist Financial in the 1st quarter valued at $2,245,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 11.1 %

NYSE:TFC opened at $47.01 on Thursday. Truist Financial Co. has a 52 week low of $28.93 and a 52 week high of $47.03. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The firm’s fifty day moving average is $42.82 and its 200-day moving average is $40.85. The firm has a market cap of $62.40 billion, a P/E ratio of -32.87, a P/E/G ratio of 1.73 and a beta of 1.05.

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 issued 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 4.43%. Truist Financial’s payout ratio is currently -145.45%.

Analysts Set New Price Targets

A number of research analysts recently commented on TFC shares. The Goldman Sachs Group dropped their price target on Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Compass Point raised their target price on Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price target on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Finally, Robert W. Baird cut Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research report on Wednesday, July 17th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $46.02.

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.