Truist Financial Co. (NYSE:TFC) Shares Sold by Professional Advisory Services Inc.

Professional Advisory Services Inc. lessened its holdings in Truist Financial Co. (NYSE:TFC) by 6.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 427,924 shares of the insurance provider’s stock after selling 29,532 shares during the quarter. Truist Financial makes up about 2.6% of Professional Advisory Services Inc.’s portfolio, making the stock its 26th biggest holding. Professional Advisory Services Inc.’s holdings in Truist Financial were worth $18,563,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Mercer Global Advisors Inc. ADV lifted its stake in shares of Truist Financial by 10.2% during the second quarter. Mercer Global Advisors Inc. ADV now owns 194,219 shares of the insurance provider’s stock worth $7,545,000 after purchasing an additional 17,968 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Truist Financial by 5.1% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 44,317 shares of the insurance provider’s stock valued at $1,722,000 after buying an additional 2,131 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Truist Financial by 14.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 95,421 shares of the insurance provider’s stock valued at $3,553,000 after buying an additional 12,166 shares during the period. Seven Eight Capital LP acquired a new position in Truist Financial during the 2nd quarter worth approximately $434,000. Finally, Intech Investment Management LLC boosted its holdings in Truist Financial by 63.3% in the 2nd quarter. Intech Investment Management LLC now owns 14,415 shares of the insurance provider’s stock worth $560,000 after acquiring an additional 5,585 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TFC shares. Piper Sandler lifted their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Raymond James lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday. Royal Bank of Canada boosted their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Barclays raised their target price on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Finally, Compass Point boosted their price target on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and a consensus target price of $49.95.

Truist Financial Price Performance

NYSE TFC opened at $47.63 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a one year low of $34.23 and a one year high of $49.06. The company has a 50-day simple moving average of $45.36 and a 200-day simple moving average of $43.48.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5,047,370 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. Truist Financial’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 earnings per share. Equities analysts forecast that Truist Financial Co. will post 3.61 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s dividend payout ratio is presently -145.45%.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were 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 in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the acquisition, 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 company insiders.

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.