Atlanta Consulting Group Advisors LLC Acquires Shares of 19,727 Truist Financial Co. (NYSE:TFC)

Atlanta Consulting Group Advisors LLC bought a new position in shares of Truist Financial Co. (NYSE:TFC) during the third quarter, Holdings Channel.com reports. The fund bought 19,727 shares of the insurance provider’s stock, valued at approximately $844,000.

A number of other large investors also recently modified their holdings of TFC. Valley Wealth Managers Inc. bought a new stake in shares of Truist Financial during the third quarter worth about $26,000. Crewe Advisors LLC acquired a new position in Truist Financial during the 1st quarter valued at about $27,000. MFA Wealth Advisors LLC bought a new stake in Truist Financial during the 2nd quarter worth approximately $30,000. Y.D. More Investments Ltd purchased a new stake in shares of Truist Financial in the second quarter worth approximately $31,000. Finally, Fortitude Family Office LLC lifted its holdings in shares of Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 678 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Performance

Shares of TFC stock opened at $46.55 on Friday. The company’s fifty day simple moving average is $43.18 and its two-hundred day simple moving average is $41.24. Truist Financial Co. has a 1 year low of $31.13 and a 1 year high of $47.57. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85.

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

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a $0.52 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.47%. Truist Financial’s dividend payout ratio (DPR) is currently -145.45%.

Wall Street Analyst Weigh In

A number of research firms recently commented on TFC. Barclays increased their price target on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Compass Point increased their target price on shares of Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $45.00 to $47.00 in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group reduced their target price on Truist Financial from $50.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Twelve 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, the stock presently has an average rating of “Hold” and an average price target of $46.37.

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.