Global Retirement Partners LLC Increases Stock Holdings in Truist Financial Co. (NYSE:TFC)

Global Retirement Partners LLC boosted its position in Truist Financial Co. (NYSE:TFC) by 0.8% during the 4th quarter, HoldingsChannel reports. The firm owned 56,019 shares of the insurance provider’s stock after purchasing an additional 420 shares during the period. Global Retirement Partners LLC’s holdings in Truist Financial were worth $2,430,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of TFC. AMF Tjanstepension AB purchased a new position in Truist Financial in the third quarter worth about $3,208,000. Allspring Global Investments Holdings LLC lifted its position in shares of Truist Financial by 8.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 77,332 shares of the insurance provider’s stock valued at $3,307,000 after buying an additional 5,786 shares in the last quarter. Foundations Investment Advisors LLC lifted its position in shares of Truist Financial by 4.4% during 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 in the last quarter. Eastern Bank purchased a new position in shares of Truist Financial during the 3rd quarter valued at about $192,000. Finally, BLB&B Advisors LLC purchased a new position in shares of Truist Financial during the 3rd quarter valued at about $454,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $46.67 on Friday. The stock’s fifty day moving average is $45.61 and its two-hundred day moving average is $44.44. The company has a market capitalization of $61.96 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. 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 data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion for 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%. Truist Financial’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.81 EPS. As a group, analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently announced 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 dividend yield of 4.46%. The ex-dividend date is Friday, February 14th. Truist Financial’s dividend payout ratio is 62.46%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TFC shares. Stephens lifted their price objective on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, January 7th. Citigroup lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Morgan Stanley boosted their price target on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Eleven equities research 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 company. Based on data from MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and an average price target of $50.79.

Insiders Place Their Bets

In other news, CEO William H. Rogers, Jr. bought 34,180 shares of the stock in a transaction on Monday, November 25th. The stock was 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 $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the company’s 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 completion of the sale, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

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.