GW Henssler & Associates Ltd. Boosts Position in Truist Financial Corporation $TFC

Key Points

• GW Henssler & Associates Ltd. increased its holdings in Truist Financial Corporation by 3.2% in Q2, acquiring 20,400 additional shares to own 667,015 shares worth approximately $28.67 million, representing about 1.5% of its portfolio.
• A significant portion of Truist Financial's stock, about 71.28%, is held by institutional investors, indicating strong interest from larger financial entities.
• Truist Financial recently announced a quarterly dividend of $0.52 per share, yielding around 4.9%, with a payout ratio of 56.68%.

GW Henssler & Associates Ltd. boosted its holdings in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 3.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 667,015 shares of the insurance provider's stock after buying an additional 20,400 shares during the quarter. Truist Financial accounts for about 1.5% of GW Henssler & Associates Ltd.'s portfolio, making the stock its 16th largest holding. GW Henssler & Associates Ltd. owned about 0.05% of Truist Financial worth $28,675,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TFC. Brighton Jones LLC increased its holdings in shares of Truist Financial by 148.5% during the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider's stock valued at $1,023,000 after purchasing an additional 14,093 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Truist Financial by 42.3% during the 1st quarter. Farther Finance Advisors LLC now owns 20,464 shares of the insurance provider's stock valued at $839,000 after purchasing an additional 6,088 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Truist Financial by 7.9% during the 1st quarter. GAMMA Investing LLC now owns 28,101 shares of the insurance provider's stock valued at $1,156,000 after purchasing an additional 2,061 shares in the last quarter. Simon Quick Advisors LLC increased its holdings in shares of Truist Financial by 36.7% during the 1st quarter. Simon Quick Advisors LLC now owns 7,470 shares of the insurance provider's stock valued at $307,000 after purchasing an additional 2,004 shares in the last quarter. Finally, Hennessy Advisors Inc. increased its holdings in shares of Truist Financial by 20.4% during the 1st quarter. Hennessy Advisors Inc. now owns 32,500 shares of the insurance provider's stock valued at $1,337,000 after purchasing an additional 5,500 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Truist Financial

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction of $566,682.60. Following the sale, the insider owned 500 shares of the company's stock, valued at $22,595. The trade was a 96.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is currently owned by company insiders.

Truist Financial Price Performance

Shares of NYSE TFC opened at $42.32 on Friday. The firm has a market cap of $54.57 billion, a PE ratio of 11.53, a PEG ratio of 1.36 and a beta of 0.88. The firm has a fifty day moving average of $45.16 and a 200 day moving average of $42.17. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The insurance provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The company had revenue of $5.04 billion during the quarter, compared to analysts' expectations of $5.04 billion. During the same period in the previous year, the firm posted $0.91 EPS. Truist Financial's revenue was down 406.0% compared to the same quarter last year. As a group, research analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial's payout ratio is 56.68%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TFC shares. Morgan Stanley lifted their target price on shares of Truist Financial from $48.00 to $54.00 and gave the company an "equal weight" rating in a report on Monday, September 29th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Truist Financial in a report on Wednesday. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $47.00 target price on shares of Truist Financial in a report on Thursday, August 21st. Raymond James Financial reaffirmed an "outperform" rating on shares of Truist Financial in a report on Tuesday. Finally, Evercore ISI boosted their price target on shares of Truist Financial from $48.00 to $50.00 and gave the stock an "in-line" rating in a report on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $48.89.

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.

Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Corporation (NYSE:TFC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.