Catalyst Capital Advisors LLC Sells 1,684 Shares of Truist Financial Co. (NYSE:TFC)

Catalyst Capital Advisors LLC cut its holdings in shares of Truist Financial Co. (NYSE:TFC) by 43.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,177 shares of the insurance provider’s stock after selling 1,684 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Truist Financial were worth $94,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bangor Savings Bank increased its holdings in shares of Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 272 shares during the period. Valley Wealth Managers Inc. bought a new position in shares of Truist Financial during the third quarter worth approximately $26,000. MidAtlantic Capital Management Inc. bought a new position in shares of Truist Financial during the third quarter worth approximately $32,000. Fortitude Family Office LLC increased its stake in Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 678 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in Truist Financial in the third quarter valued at approximately $45,000. 71.28% of the stock is owned by institutional investors.

Insider Activity at Truist Financial

In related news, 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 value of $229,429.20. Following the transaction, the director now owns 11,246 shares in the company, valued at $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price 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 $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is owned by company insiders.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $47.54 on Wednesday. The firm has a market cap of $63.10 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. The firm’s fifty day moving average is $45.53 and its 200-day moving average is $44.37. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a 52 week low of $34.26 and a 52 week high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The company 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%. Truist Financial’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 earnings per share. Sell-side analysts predict that Truist Financial Co. will post 3.98 earnings per share for the current year.

Truist Financial Announces Dividend

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 issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 4.38%. Truist Financial’s payout ratio is 62.46%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TFC shares. Raymond James lifted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Compass Point lifted their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group lifted their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. 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. Finally, Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

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.