Newbridge Financial Services Group Inc. Has $193,000 Holdings in Truist Financial Co. (NYSE:TFC)

Newbridge Financial Services Group Inc. lifted its position in shares of Truist Financial Co. (NYSE:TFC) by 785.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,452 shares of the insurance provider’s stock after acquiring an additional 3,949 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Truist Financial were worth $193,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TFC. Kestra Private Wealth Services LLC raised its stake in shares of Truist Financial by 6.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 81,324 shares of the insurance provider’s stock valued at $3,528,000 after acquiring an additional 4,725 shares during the last quarter. Kingsview Wealth Management LLC increased its holdings in Truist Financial by 0.6% in the fourth quarter. Kingsview Wealth Management LLC now owns 155,289 shares of the insurance provider’s stock valued at $6,736,000 after purchasing an additional 947 shares during the period. Apollon Wealth Management LLC raised its position in Truist Financial by 10.9% during the 4th quarter. Apollon Wealth Management LLC now owns 54,502 shares of the insurance provider’s stock worth $2,364,000 after purchasing an additional 5,345 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. lifted its holdings in Truist Financial by 0.9% during the 4th quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 416,364 shares of the insurance provider’s stock worth $18,062,000 after buying an additional 3,735 shares during the period. Finally, Shepherd Financial Partners LLC grew its position in shares of Truist Financial by 3.2% in the 4th quarter. Shepherd Financial Partners LLC now owns 10,477 shares of the insurance provider’s stock valued at $454,000 after buying an additional 321 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of analyst reports. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Citigroup boosted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Morgan Stanley increased their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods boosted their target price on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Finally, Wells Fargo & Company increased their price target on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, the chief executive officer now owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. The trade was a 5.20 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by insiders.

Truist Financial Stock Performance

TFC opened at $47.68 on Monday. The company has a market cap of $63.30 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 1.69 and a beta of 1.08. The company’s fifty day moving average price is $45.53 and its two-hundred day moving average price is $44.26. Truist Financial Co. has a 1-year low of $34.23 and a 1-year high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.81 EPS. On average, analysts expect that Truist Financial Co. will post 3.98 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 4.36%. Truist Financial’s dividend payout ratio (DPR) is currently 62.46%.

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.