9. INDUSTRY, INNOVATION, AND INFRASTRUCTURE

Allworth Financial LP Sells 728 Shares of Truist Financial Co. (NYSE:TFC) – Defense World

Written by Amanda

Allworth Financial LP Sells 728 Shares of Truist Financial Co. (NYSE:TFC)  Defense World

Allworth Financial LP reduced its position in shares of Truist Financial Co. (NYSE:TFCGet Rating) by 20.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,850 shares of the insurance provider’s stock after selling 728 shares during the period. Allworth Financial LP’s holdings in Truist Financial were worth $162,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. WealthShield Partners LLC boosted its holdings in shares of Truist Financial by 0.5% during the 4th quarter. WealthShield Partners LLC now owns 30,950 shares of the insurance provider’s stock worth $1,812,000 after buying an additional 163 shares during the period. Good Life Advisors LLC boosted its holdings in shares of Truist Financial by 2.1% during the 4th quarter. Good Life Advisors LLC now owns 7,838 shares of the insurance provider’s stock worth $459,000 after buying an additional 163 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Truist Financial by 0.6% during the 4th quarter. Cetera Investment Advisers now owns 32,460 shares of the insurance provider’s stock worth $1,901,000 after buying an additional 178 shares during the period. AdvisorNet Financial Inc boosted its holdings in shares of Truist Financial by 2.7% during the 4th quarter. AdvisorNet Financial Inc now owns 7,448 shares of the insurance provider’s stock worth $436,000 after buying an additional 195 shares during the period. Finally, Samalin Investment Counsel LLC boosted its holdings in Truist Financial by 5.5% in the 4th quarter. Samalin Investment Counsel LLC now owns 3,771 shares of the insurance provider’s stock valued at $221,000 after purchasing an additional 195 shares during the period. 72.79% of the stock is owned by institutional investors and hedge funds.

Shares of Truist Financial stock opened at $47.70 on Friday. The stock has a market capitalization of $63.51 billion, a P/E ratio of 10.65, a price-to-earnings-growth ratio of 1.77 and a beta of 1.14. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.58. The company has a 50-day simple moving average of $47.84 and a 200 day simple moving average of $55.39. Truist Financial Co. has a 12-month low of $44.75 and a 12-month high of $68.95.

Truist Financial (NYSE:TFCGet Rating) last announced its earnings results on Tuesday, April 19th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.11. The business had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Truist Financial had a net margin of 27.89% and a return on equity of 12.70%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the company posted $1.18 EPS. On average, equities analysts anticipate that Truist Financial Co. will post 4.95 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Friday, May 13th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 4.03%. The ex-dividend date was Thursday, May 12th. Truist Financial’s payout ratio is presently 42.86%.

TFC has been the subject of a number of research reports. Stephens reduced their price target on shares of Truist Financial from $74.00 to $64.00 and set an “overweight” rating for the company in a report on Tuesday, June 7th. Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $75.00 to $58.00 in a report on Monday, April 11th. StockNews.com downgraded shares of Truist Financial from a “buy” rating to a “hold” rating in a report on Wednesday, May 25th. Wolfe Research reduced their price target on shares of Truist Financial from $57.00 to $41.00 and set an “underperform” rating for the company in a report on Thursday, May 26th. Finally, Bank of America downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and set a $58.00 price target for the company. in a report on Friday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Truist Financial has an average rating of “Hold” and a consensus target price of $62.19.

In related news, Director Steven C. Voorhees acquired 20,000 shares of the stock in a transaction on Wednesday, May 4th. The stock was purchased at an average price of $49.82 per share, for a total transaction of $996,400.00. Following the transaction, the director now owns 60,873 shares of the company’s stock, valued at approximately $3,032,692.86. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.31% of the company’s stock.

About Truist Financial (Get Rating)

Truist Financial Corporation, a holding 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.

See Also

Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Co. (NYSE:TFCGet Rating).

Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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Source: defenseworld.net

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Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai

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