Truist Financial Co. (NYSE:TFC) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. decreased its stake in shares of Truist Financial Co. (NYSE:TFC) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,156 shares of the insurance provider’s stock after selling 5,763 shares during the period. Advisors Asset Management Inc.’s holdings in Truist Financial were worth $3,868,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bangor Savings Bank boosted its position in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares in the last quarter. Hopwood Financial Services Inc. bought a new position in shares of Truist Financial during the 4th quarter valued at about $26,000. Curio Wealth LLC bought a new position in shares of Truist Financial during the 4th quarter valued at about $45,000. City State Bank boosted its position in shares of Truist Financial by 158.1% during the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 716 shares in the last quarter. Finally, True Wealth Design LLC acquired a new position in shares of Truist Financial in the third quarter worth about $51,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on TFC shares. The Goldman Sachs Group raised their target price on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. 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 upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, January 7th. Finally, Raymond James increased their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and a consensus target price of $51.16.

Truist Financial Trading Up 0.1 %

NYSE:TFC opened at $41.32 on Friday. Truist Financial Co. has a twelve month low of $35.09 and a twelve month high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average price of $45.15 and a two-hundred day moving average price of $44.47. The company has a market cap of $53.94 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the prior year, the business posted $0.81 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. As a group, analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio is currently 62.46%.

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.