Truist Financial Co. (NYSE:TFC) Stock Position Increased by Bogart Wealth LLC

Bogart Wealth LLC boosted its position in Truist Financial Co. (NYSE:TFC) by 97.9% during the 4th quarter, HoldingsChannel reports. The firm owned 331,725 shares of the insurance provider’s stock after buying an additional 164,112 shares during the quarter. Truist Financial makes up about 0.7% of Bogart Wealth LLC’s investment portfolio, making the stock its 28th largest position. Bogart Wealth LLC’s holdings in Truist Financial were worth $14,390,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Tradewinds LLC. lifted its stake in Truist Financial by 0.5% in the third quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock valued at $1,904,000 after acquiring an additional 222 shares during the last quarter. PBMares Wealth Management LLC lifted its stake in Truist Financial by 0.8% in the fourth quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock valued at $1,270,000 after acquiring an additional 224 shares during the last quarter. Koshinski Asset Management Inc. lifted its stake in Truist Financial by 2.1% in the fourth quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock valued at $470,000 after acquiring an additional 225 shares during the last quarter. Aaron Wealth Advisors LLC lifted its stake in Truist Financial by 3.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock valued at $335,000 after acquiring an additional 227 shares during the last quarter. Finally, Ignite Planners LLC lifted its stake in Truist Financial by 1.4% in the fourth quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock valued at $772,000 after acquiring an additional 246 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Truist Financial

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

Truist Financial Trading Up 0.2 %

Shares of Truist Financial stock opened at $46.46 on Friday. The firm has a market capitalization of $61.67 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company’s fifty day moving average price is $45.55 and its two-hundred day moving average price is $44.32. Truist Financial Co. has a 52-week low of $34.26 and a 52-week high of $49.06.

Truist Financial (NYSE:TFC) last announced 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. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 EPS. On average, analysts expect that Truist Financial Co. will post 3.98 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TFC. Barclays boosted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. The Goldman Sachs Group boosted their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. UBS Group boosted their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Piper Sandler boosted their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, January 7th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.79.

About Truist Financial

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.