Truist Financial Co. (NYSE:TFC) Shares Sold by Allworth Financial LP

Allworth Financial LP reduced its stake in Truist Financial Co. (NYSE:TFC) by 9.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,926 shares of the insurance provider’s stock after selling 4,235 shares during the period. Allworth Financial LP’s holdings in Truist Financial were worth $1,971,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. AMF Tjanstepension AB acquired a new position in shares of Truist Financial in the 3rd quarter worth approximately $3,208,000. Exchange Traded Concepts LLC lifted its stake in Truist Financial by 395.6% during the third quarter. Exchange Traded Concepts LLC now owns 2,007 shares of the insurance provider’s stock worth $86,000 after purchasing an additional 1,602 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Truist Financial by 8.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 77,332 shares of the insurance provider’s stock worth $3,307,000 after buying an additional 5,786 shares during the period. Toth Financial Advisory Corp grew its stake in shares of Truist Financial by 20.8% in the third quarter. Toth Financial Advisory Corp now owns 6,658 shares of the insurance provider’s stock valued at $285,000 after buying an additional 1,147 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its holdings in shares of Truist Financial by 4.4% in the 3rd quarter. Foundations Investment Advisors LLC now owns 31,898 shares of the insurance provider’s stock valued at $1,364,000 after buying an additional 1,352 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity

In related news, CEO William H. Rogers, Jr. bought 34,180 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were acquired at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now owns 691,451 shares in the company, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction 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 sale, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Stock Up 1.5 %

Truist Financial stock opened at $47.54 on Wednesday. The stock has a 50-day simple moving average of $45.53 and a 200-day simple moving average of $44.37. The company has a market capitalization of $63.10 billion, a P/E ratio of 14.27, a PEG ratio of 1.69 and a beta of 1.08. 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 fifty-two week low of $34.26 and a fifty-two week high of $49.06.

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

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders 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 4.38%. Truist Financial’s dividend payout ratio is presently 62.46%.

Analyst Ratings Changes

A number of brokerages recently weighed in on TFC. 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 report on Tuesday, December 3rd. Barclays boosted their price target 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. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Citigroup boosted their target price on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Finally, HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Truist Financial presently has a consensus 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.