Fort Sheridan Advisors LLC Boosts Stake in Truist Financial Co. (NYSE:TFC)

Fort Sheridan Advisors LLC lifted its stake in shares of Truist Financial Co. (NYSE:TFC) by 25.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 26,060 shares of the insurance provider’s stock after acquiring an additional 5,255 shares during the period. Fort Sheridan Advisors LLC’s holdings in Truist Financial were worth $1,130,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TFC. AMF Tjanstepension AB bought a new position in shares of Truist Financial during the 3rd quarter valued at about $3,208,000. Pallas Capital Advisors LLC bought a new position in Truist Financial during the third quarter valued at approximately $397,000. abrdn plc grew its position in Truist Financial by 4.3% during the third quarter. abrdn plc now owns 1,184,313 shares of the insurance provider’s stock valued at $50,452,000 after acquiring an additional 49,157 shares during the last quarter. Fortitude Family Office LLC raised its stake in shares of Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 678 shares in the last quarter. Finally, Integrated Advisors Network LLC bought a new stake in shares of Truist Financial in the 3rd quarter worth approximately $258,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $45.75 on Friday. Truist Financial Co. has a 12 month low of $34.51 and a 12 month high of $49.06. The firm has a market capitalization of $60.73 billion, a P/E ratio of 13.74, a P/E/G ratio of 1.63 and a beta of 1.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $45.72 and a two-hundred day simple moving average of $44.58.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the company posted $0.81 EPS. On average, equities analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TFC. Wells Fargo & Company lifted their target price on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, January 7th. The Goldman Sachs Group increased their target price on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Morgan Stanley increased their price objective on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and an average 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.