Truist Financial Corp Sells 174,903 Shares of Truist Financial Co. (NYSE:TFC)

Truist Financial Corp decreased its stake in shares of Truist Financial Co. (NYSE:TFC) by 3.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,559,409 shares of the insurance provider’s stock after selling 174,903 shares during the period. Truist Financial Corp’s holdings in Truist Financial were worth $197,787,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. AMF Tjanstepension AB bought a new position in shares of Truist Financial during the third quarter worth approximately $3,208,000. Exchange Traded Concepts LLC lifted its holdings in shares of Truist Financial by 395.6% during the third quarter. Exchange Traded Concepts LLC now owns 2,007 shares of the insurance provider’s stock worth $86,000 after buying an additional 1,602 shares in the last quarter. Vontobel Holding Ltd. boosted its position in shares of Truist Financial by 1.9% in the third quarter. Vontobel Holding Ltd. now owns 22,317 shares of the insurance provider’s stock valued at $954,000 after acquiring an additional 426 shares during the period. Bleakley Financial Group LLC grew its stake in shares of Truist Financial by 5.8% in the third quarter. Bleakley Financial Group LLC now owns 36,746 shares of the insurance provider’s stock valued at $1,572,000 after acquiring an additional 2,019 shares in the last quarter. Finally, Aaron Wealth Advisors LLC increased its position in Truist Financial by 29.3% during the third quarter. Aaron Wealth Advisors LLC now owns 7,485 shares of the insurance provider’s stock worth $320,000 after acquiring an additional 1,698 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity

In other news, CEO William H. Rogers, Jr. bought 34,180 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the 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 of the company’s stock, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of analyst reports. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Morgan Stanley increased their price target on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Stephens upped their target price on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Compass Point raised their price target on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company upped their price objective on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Stock Up 0.7 %

Shares of NYSE TFC opened at $46.80 on Monday. The company has a 50 day simple moving average of $45.53 and a 200 day simple moving average of $44.34. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a 1 year low of $34.26 and a 1 year high of $49.06. The firm has a market cap of $62.13 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08.

Truist Financial (NYSE:TFC) last released its quarterly 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. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter last year, the firm earned $0.81 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, research analysts forecast that Truist Financial Co. will post 3.98 EPS for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a $0.52 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.44%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

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.