Truist Financial Co. (NYSE:TFC) Stock Holdings Boosted by Financial Management Professionals Inc.

Financial Management Professionals Inc. increased its position in Truist Financial Co. (NYSE:TFC) by 12.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,693 shares of the insurance provider’s stock after buying an additional 1,211 shares during the quarter. Financial Management Professionals Inc.’s holdings in Truist Financial were worth $464,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TFC. Mercer Global Advisors Inc. ADV grew its position in Truist Financial by 10.2% in the second quarter. Mercer Global Advisors Inc. ADV now owns 194,219 shares of the insurance provider’s stock worth $7,545,000 after buying an additional 17,968 shares during the last quarter. Seven Eight Capital LP acquired a new position in shares of Truist Financial in the 2nd quarter worth $434,000. Intech Investment Management LLC raised its position in shares of Truist Financial by 63.3% during the second quarter. Intech Investment Management LLC now owns 14,415 shares of the insurance provider’s stock worth $560,000 after purchasing an additional 5,585 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Truist Financial by 16.5% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 107,592 shares of the insurance provider’s stock valued at $4,180,000 after purchasing an additional 15,262 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its position in shares of Truist Financial by 31.7% in the 2nd quarter. Benjamin Edwards Inc. now owns 1,826 shares of the insurance provider’s stock valued at $71,000 after purchasing an additional 439 shares during the period. Institutional investors own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction on 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 sale, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. This represents a 30.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were bought at an average price 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 in the company, valued at approximately $33,576,860.56. This trade 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 corporate insiders.

Analyst Upgrades and Downgrades

TFC has been the topic of several recent analyst reports. Barclays boosted their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Citigroup upped their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Stephens reiterated an “overweight” rating and set a $54.00 price objective on shares of Truist Financial in a research report on Thursday, January 2nd. JPMorgan Chase & Co. increased their target price on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, Piper Sandler lifted their price target on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Eleven investment 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.95.

Truist Financial Stock Up 5.9 %

Shares of TFC stock opened at $47.63 on Friday. The stock’s 50 day simple moving average is $45.40 and its 200 day simple moving average is $43.54. Truist Financial Co. has a twelve month low of $34.23 and a twelve month high of $49.06. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 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 analyst estimates of $5,047,370 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.81 earnings per share. As a group, equities research analysts forecast that Truist Financial Co. will post 3.61 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.37%. The ex-dividend date was Friday, November 8th. Truist Financial’s dividend payout ratio is currently -145.45%.

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.