5T Wealth LLC Acquires New Position in Truist Financial Co. (NYSE:TFC)

5T Wealth LLC bought a new position in Truist Financial Co. (NYSE:TFC) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 9,425 shares of the insurance provider’s stock, valued at approximately $409,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Sanctuary Advisors LLC increased its holdings in shares of Truist Financial by 2.2% in the fourth quarter. Sanctuary Advisors LLC now owns 262,609 shares of the insurance provider’s stock valued at $12,610,000 after buying an additional 5,638 shares in the last quarter. Strategic Advisors LLC boosted its position in shares of Truist Financial by 9.6% in the 4th quarter. Strategic Advisors LLC now owns 17,100 shares of the insurance provider’s stock valued at $742,000 after purchasing an additional 1,500 shares during the period. Pathway Financial Advisors LLC increased its stake in Truist Financial by 2.2% in the 4th quarter. Pathway Financial Advisors LLC now owns 12,124 shares of the insurance provider’s stock worth $526,000 after purchasing an additional 260 shares in the last quarter. Nkcfo LLC acquired a new stake in Truist Financial during the 4th quarter worth about $2,542,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Truist Financial in the fourth quarter worth about $661,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Up 0.7 %

Shares of TFC stock opened at $46.80 on Monday. The company has a market capitalization of $62.13 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 1.69 and a beta of 1.08. Truist Financial Co. has a 12-month low of $34.26 and a 12-month high of $49.06. The firm has a fifty day moving average of $45.53 and a 200-day moving average of $44.35. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. Truist Financial’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the business posted $0.81 EPS. As a group, equities research analysts predict that Truist Financial Co. will post 3.98 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.44%. Truist Financial’s dividend payout ratio is currently 62.46%.

Insider Transactions at Truist Financial

In other news, CEO William H. Rogers, Jr. bought 34,180 shares of the stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the acquisition, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the sale, the director now owns 11,246 shares in the company, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Wells Fargo & Company lifted their target price on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley raised their price target on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Piper Sandler upped their price target on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

About Truist Financial

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.