OneDigital Investment Advisors LLC Boosts Position in Truist Financial Co. (NYSE:TFC)

OneDigital Investment Advisors LLC grew its holdings in Truist Financial Co. (NYSE:TFC) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,209 shares of the insurance provider’s stock after acquiring an additional 875 shares during the period. OneDigital Investment Advisors LLC’s holdings in Truist Financial were worth $1,420,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TFC. Capital International Investors lifted its holdings in shares of Truist Financial by 93.7% in the 1st quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock valued at $453,854,000 after buying an additional 5,632,493 shares during the period. Legal & General Group Plc lifted its holdings in Truist Financial by 1.0% in the second quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock valued at $401,663,000 after acquiring an additional 103,565 shares during the period. Dimensional Fund Advisors LP boosted its position in Truist Financial by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after purchasing an additional 299,196 shares in the last quarter. Truist Financial Corp grew its stake in shares of Truist Financial by 6.7% during the 2nd quarter. Truist Financial Corp now owns 4,931,783 shares of the insurance provider’s stock worth $191,600,000 after purchasing an additional 311,523 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Truist Financial by 1.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,489,411 shares of the insurance provider’s stock valued at $136,018,000 after purchasing an additional 58,349 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

Truist Financial stock opened at $46.55 on Monday. The company has a 50-day moving average price of $43.18 and a 200 day moving average price of $41.27. Truist Financial Co. has a 12-month low of $31.13 and a 12-month high of $47.57. 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 market cap of $61.80 billion, a P/E ratio of -32.55, a PEG ratio of 1.91 and a beta of 1.05.

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

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 $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.47%. Truist Financial’s dividend payout ratio (DPR) is currently -145.45%.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of recent analyst reports. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Compass Point upped their price target on Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. Argus raised their price objective on Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and upped their target price for the stock from $45.00 to $47.00 in a research note on Wednesday, July 24th. Finally, Morgan Stanley lifted their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $46.37.

Truist Financial Company 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.