Truist Financial Co. (NYSE:TFC) Shares Sold by Woodard & Co. Asset Management Group Inc. ADV

Woodard & Co. Asset Management Group Inc. ADV lessened its stake in Truist Financial Co. (NYSE:TFC) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,288 shares of the insurance provider’s stock after selling 300 shares during the quarter. Woodard & Co. Asset Management Group Inc. ADV’s holdings in Truist Financial were worth $707,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TFC. State Street Corp boosted its holdings in shares of Truist Financial by 4.6% in the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after purchasing an additional 2,720,223 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Truist Financial by 316.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock valued at $90,585,000 after purchasing an additional 1,609,351 shares during the last quarter. KBC Group NV boosted its holdings in shares of Truist Financial by 96.9% in the 4th quarter. KBC Group NV now owns 2,031,893 shares of the insurance provider’s stock valued at $88,144,000 after purchasing an additional 999,763 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Truist Financial by 26.1% in the 3rd quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock valued at $166,892,000 after purchasing an additional 807,648 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of Truist Financial by 21.0% in the 3rd quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock valued at $155,288,000 after purchasing an additional 630,628 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

TFC opened at $46.80 on Monday. The company has a 50-day moving average of $45.53 and a 200-day moving average of $44.35. The company has a market capitalization of $62.13 billion, a P/E ratio of 14.06, a PEG ratio of 1.69 and a beta of 1.08. Truist Financial Co. has a 1-year low of $34.26 and a 1-year high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. The company 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%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 EPS. Equities analysts expect that Truist Financial Co. will post 3.98 EPS for the current fiscal year.

Truist Financial Dividend Announcement

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

Insider Transactions at Truist Financial

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

Analyst Ratings Changes

TFC has been the topic of several recent research reports. Stephens lifted their target price on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Raymond James lifted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Compass Point lifted their target price on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Barclays lifted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

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.