Trust Investment Advisors Sells 5,517 Shares of Truist Financial Co. (NYSE:TFC)

Trust Investment Advisors decreased its holdings in Truist Financial Co. (NYSE:TFC) by 22.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 19,381 shares of the insurance provider’s stock after selling 5,517 shares during the period. Trust Investment Advisors’ holdings in Truist Financial were worth $841,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TFC. Thrivent Financial for Lutherans lifted its holdings in shares of Truist Financial by 17.6% in the third quarter. Thrivent Financial for Lutherans now owns 82,255 shares of the insurance provider’s stock worth $3,518,000 after acquiring an additional 12,300 shares during the last quarter. Quest Partners LLC increased its position in Truist Financial by 81.1% during the 3rd quarter. Quest Partners LLC now owns 4,754 shares of the insurance provider’s stock worth $203,000 after purchasing an additional 2,129 shares in the last quarter. Intech Investment Management LLC lifted its stake in Truist Financial by 34.5% in the 3rd quarter. Intech Investment Management LLC now owns 19,390 shares of the insurance provider’s stock valued at $829,000 after purchasing an additional 4,975 shares during the last quarter. Centaurus Financial Inc. boosted its position in Truist Financial by 28.2% in the third quarter. Centaurus Financial Inc. now owns 16,168 shares of the insurance provider’s stock valued at $691,000 after buying an additional 3,559 shares in the last quarter. Finally, Summit Trail Advisors LLC grew its stake in shares of Truist Financial by 7.6% during the third quarter. Summit Trail Advisors LLC now owns 15,229 shares of the insurance provider’s stock worth $651,000 after buying an additional 1,081 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

TFC has been the subject of a number of research reports. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, January 7th. Citigroup cut their price target on Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday. Raymond James upped their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Stephens raised their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Finally, Compass Point boosted their target price on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Trading Down 0.5 %

Shares of TFC stock opened at $41.96 on Wednesday. The company has a market cap of $54.77 billion, a P/E ratio of 12.60, a PEG ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a fifty-two week low of $35.09 and a fifty-two week high of $49.06. The stock has a 50 day simple moving average of $45.06 and a two-hundred day simple moving average of $44.45. 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 (NYSE:TFC) last released its 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 for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. Truist Financial’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 EPS. Research analysts forecast 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 was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

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.