Steward Partners Investment Advisory LLC cut its position in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 45.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 46,861 shares of the insurance provider’s stock after selling 38,372 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Truist Financial were worth $1,730,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Valmark Advisers Inc. increased its position in Truist Financial by 2.2% during the fourth quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock worth $479,000 after buying an additional 277 shares in the last quarter. St. Johns Investment Management Company LLC increased its position in Truist Financial by 0.9% during the fourth quarter. St. Johns Investment Management Company LLC now owns 32,255 shares of the insurance provider’s stock worth $1,191,000 after buying an additional 296 shares in the last quarter. Mechanics Financial Corp increased its position in Truist Financial by 7.4% during the fourth quarter. Mechanics Financial Corp now owns 4,345 shares of the insurance provider’s stock worth $160,000 after buying an additional 300 shares in the last quarter. Day & Ennis LLC increased its position in Truist Financial by 4.3% during the fourth quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock worth $278,000 after buying an additional 311 shares in the last quarter. Finally, Carson Advisory Inc. increased its position in Truist Financial by 1.5% during the fourth quarter. Carson Advisory Inc. now owns 21,928 shares of the insurance provider’s stock worth $810,000 after buying an additional 315 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
TFC has been the subject of a number of recent analyst reports. Citigroup lifted their price objective on Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. TheStreet downgraded Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. lifted their price objective on Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Piper Sandler lifted their price objective on Truist Financial from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. Finally, Stephens lifted their price objective on Truist Financial from $43.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.17.
Get Our Latest Stock Report on TFC
Insider Buying and Selling at Truist Financial
In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now owns 16,132 shares in the company, valued at $604,627.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is currently owned by insiders.
Truist Financial Stock Performance
NYSE:TFC opened at $37.75 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. Truist Financial Co. has a one year low of $26.57 and a one year high of $40.51. The business’s 50-day simple moving average is $38.26 and its 200 day simple moving average is $36.57.
Truist Financial (NYSE:TFC – Get Free Report) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. Truist Financial’s revenue for the quarter was down 8.8% compared to the same quarter last year. Research analysts forecast that Truist Financial Co. will post 3.33 earnings per share for the current year.
Truist Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.51%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s payout ratio is currently -157.58%.
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.
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Source: defenseworld.net
