Truist Financial Co. (NYSE:TFC) Shares Sold by Fourpath Capital Management LLC

Fourpath Capital Management LLC lowered its stake in Truist Financial Co. (NYSE:TFC) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,261 shares of the insurance provider’s stock after selling 478 shares during the period. Fourpath Capital Management LLC’s holdings in Truist Financial were worth $705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Truist Financial by 48.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock worth $129,000 after acquiring an additional 971 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Truist Financial by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock valued at $64,638,000 after purchasing an additional 50,637 shares in the last quarter. Cadence Bank lifted its position in shares of Truist Financial by 101.6% during the 3rd quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock worth $7,920,000 after purchasing an additional 93,322 shares during the last quarter. Boston Common Asset Management LLC grew its stake in shares of Truist Financial by 66.4% during the third quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock worth $6,609,000 after purchasing an additional 61,683 shares in the last quarter. Finally, Independent Advisor Alliance increased its holdings in Truist Financial by 10.7% in the third quarter. Independent Advisor Alliance now owns 282,607 shares of the insurance provider’s stock valued at $12,087,000 after buying an additional 27,408 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Down 1.5 %

Shares of Truist Financial stock opened at $46.92 on Tuesday. The company has a market cap of $62.29 billion, a P/E ratio of 14.09, a PEG ratio of 1.69 and a beta of 1.08. The firm has a fifty day moving average of $45.55 and a two-hundred day moving average of $44.11. 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 one year low of $34.23 and a one year 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 analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter last year, the firm earned $0.81 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. On average, analysts forecast that Truist Financial Co. will post 3.95 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio is presently 62.46%.

Analysts Set New Price Targets

Several research firms have recently issued reports on TFC. The Goldman Sachs Group upped their price objective on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Morgan Stanley upped their price target on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. HSBC raised shares of 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. Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Finally, Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

Insiders Place Their Bets

In other 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 value of $229,429.20. Following the completion of the transaction, the director now owns 11,246 shares in the company, valued at $519,565.20. This trade represents a 30.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were bought 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 position. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.

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.