Truist Financial Co. (NYSE:TFC) Stake Lessened by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC decreased its position in shares of Truist Financial Co. (NYSE:TFC) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,195 shares of the insurance provider’s stock after selling 3,042 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Truist Financial were worth $8,684,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB bought a new position in Truist Financial during the third quarter valued at about $3,208,000. Exchange Traded Concepts LLC lifted its holdings in Truist Financial by 395.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,007 shares of the insurance provider’s stock valued at $86,000 after acquiring an additional 1,602 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of Truist Financial by 1.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 22,317 shares of the insurance provider’s stock valued at $954,000 after purchasing an additional 426 shares in the last quarter. Good Life Advisors LLC grew its stake in shares of Truist Financial by 20.2% in the 3rd quarter. Good Life Advisors LLC now owns 12,759 shares of the insurance provider’s stock worth $546,000 after purchasing an additional 2,143 shares during the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of Truist Financial by 3.0% in the 3rd quarter. Global Retirement Partners LLC now owns 55,599 shares of the insurance provider’s stock worth $2,378,000 after purchasing an additional 1,638 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling

In other Truist Financial news, CEO William H. Rogers, Jr. bought 34,180 shares of the stock in a transaction on Monday, November 25th. The shares were purchased at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the acquisition, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This represents a 5.20 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the transaction, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Stephens raised their target price on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, January 7th. Raymond James increased their price target on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Citigroup boosted their price objective on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

Truist Financial Price Performance

NYSE TFC opened at $46.80 on Friday. Truist Financial Co. has a fifty-two week low of $34.26 and a fifty-two week high of $49.06. The stock’s 50-day moving average is $45.53 and its two-hundred day moving average is $44.35. The firm has a market cap of $62.13 billion, a P/E ratio of 14.06, 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.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period last year, the business earned $0.81 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. On average, analysts anticipate that Truist Financial Co. will post 3.98 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

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

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.