SCS Capital Management LLC Makes New Investment in Truist Financial Corporation $TFC
SCS Capital Management LLC bought a new position in Truist Financial Corporation (NYSE:TFC - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 365,746 shares of the insurance provider's stock, valued at approximately $18,221,000. Several o
SCS Capital Management LLC bought a new position in Truist Financial Corporation (NYSE:TFC-Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 365,746 shares of the insurance provider's stock, valued at approximately $18,221,000. GetTruist Financialalerts:Fiserv’s Debit Network Talks Raise a Bigger Question for Visa and MastercardSeveral other hedge funds have also recently made changes to their positions in TFC. Kemnay Advisory Services Inc. purchased a new position in Truist Financial in the fourth quarter worth about $25,000. Swiss RE Ltd. purchased a new stake in Truist Financial during the fourth quarter valued at approximately $26,000. McMillan Office Inc. purchased a new stake in Truist Financial during the fourth quarter valued at approximately $31,000. Mowery & Schoenfeld Wealth Management LLC lifted its stake in shares of Truist Financial by 190. 7% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 431 shares during the last quarter. Finally, Ancora Advisors LLC lifted its stake in shares of Truist Financial by 259. 1% in the 3rd quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 500 shares during the last quarter. 71. 28% of the stock is currently owned by hedge funds and other institutional investors. Insider Buying and Selling at Truist FinancialIn other news, CEO William H. Rogers, Jr. sold 13,250 shares of Truist Financial stock in a transaction on Monday, July 20th. The stock was sold at an average price of $52. 36, for a total transaction of $693,770. 00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed throughthe SEC website. Also, DirectorK. David Jr. Boyersold 3,986 shares of the business's stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $50. 70, for a total transaction of $202,090. 20. Following the sale, the director directly owned 10,270 shares of the company's stock, valued at $520,689. This represents a 27. 96% decrease in their ownership of the stock. Additional details regarding this sale are available in theofficial SEC disclosure. Insiders have sold 30,516 shares of company stock valued at $1,584,428 in the last quarter. 0. 15% of the stock is owned by insiders. Wall Street Analysts Forecast GrowthThe One Metric Bulls Watch in Palantir Before EarningsA number of equities analysts have recently commented on TFC shares. UBS Group cut Truist Financial from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $58. 00 to $55. 00 in a report on Tuesday, July 7th. Citigroup lowered Truist Financial from a "buy" rating to a "neutral" rating and decreased their price target for the company from $63. 00 to $54. 00 in a report on Tuesday, June 30th. JPMorgan Chase & Co. raised their price target on Truist Financial from $53. 00 to $54. 00 and gave the stock an "underweight" rating in a research report on Wednesday, July 29th. Royal Bank Of Canada lifted their price objective on shares of Truist Financial from $51. 00 to $53. 00 and gave the stock an "outperform" rating in a research note on Monday, April 20th. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $54. 00 price objective (down from $62. 00) on shares of Truist Financial in a research report on Monday, July 6th. Seven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat. com, the company currently has a consensus rating of "Hold" and a consensus price target of $54. 67. Get Our Latest Analysis on TFCTruist Financial Stock Up 0. 2%Chipotle: Too Spicy for Smart Money to Resist After Stock SplitShares ofNYSE:TFCopened at $53. 08 on Friday. The firm has a market capitalization of $64. 84 billion, a PE ratio of 12. 17, a price-to-earnings-growth ratio of 1. 12 and a beta of 0. 89. The business has a 50 day simple moving average of $51. 13 and a two-hundred day simple moving average of $49. 80. Truist Financial Corporation has a 1 year low of $40. 78 and a 1 year high of $56. 19. The company has a debt-to-equity ratio of 0. 73, a current ratio of 0. 86 and a quick ratio of 0. 86. Truist Financial (NYSE:TFC-Get Free Report) last issued its quarterly earnings results on Friday, July 17th. The insurance provider reported $1. 23 earnings per share for the quarter, topping the consensus estimate of $1. 08 by $0. 15. Truist Financial had a return on equity of 10. 06% and a net margin of 19. 13%. The firm had revenue of $5. 31 billion for the quarter, compared to the consensus estimate of $5. 24 billion. During the same period in the prior year, the business posted $0. 91 earnings per share. The company's revenue for the quarter was up 5. 6% on a year-over-year basis. On average, equities analysts predict that Truist Financial Corporation will post 4. 58 EPS for the current year. Truist Financial Dividend AnnouncementThe firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a $0. 52 dividend. This represents a $2. 08 annualized dividend and a yield of 3. 9%. The ex-dividend date of this dividend is Friday, August 14th. Truist Financial's dividend payout ratio is 47. 71%. Truist Financial Profile(Free Report)Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products. Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses. See AlsoFive stocks we like better than Truist FinancialIs Best Buy the AI Winner Hiding in the Electronics Aisle?Applied Materials Beat Everything but Wall Street’s Expectations for MarginsBack From Orbit, Intuitive Machines' Share Price Enters the Buy ZoneTexas Roadhouse and Brinker International Have the Recipe Rivals Are MissingThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat. com. Continue following MarketBeatAdd MarketBeat as your preferred source on Google to see our latest stories in your feed. Should You Invest $1,000 in Truist Financial Right Now?Before you consider Truist Financial, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified thefive stocksthat top analysts are quietly whispering to their clients to buy now before the broader market catches on. . . and Truist Financial wasn't on the list. While Truist Financial currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks HereEnter your email address and we’ll send you MarketBeat’s list of ten stocks set to soar in Summer 2026, despite the threat of tariffs and what's happening in Iran. These ten stocks are incredibly resilient and are likely to thrive in any economic environment. Get This Free Report