Sheaff Brock Investment Advisors LLC Has $8.68 Million Holdings in Truist Financial Co. (NYSE:TFC)

Sheaff Brock Investment Advisors LLC trimmed its stake in Truist Financial Co. (NYSE:TFC) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 200,195 shares of the insurance provider’s stock after selling 3,042 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Truist Financial were worth $8,684,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. AMF Tjanstepension AB acquired a new stake in shares of Truist Financial during the 3rd quarter worth about $3,208,000. Exchange Traded Concepts LLC grew its stake in Truist Financial by 395.6% during the third quarter. Exchange Traded Concepts LLC now owns 2,007 shares of the insurance provider’s stock worth $86,000 after buying an additional 1,602 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Truist Financial by 1.9% during the third quarter. Vontobel Holding Ltd. now owns 22,317 shares of the insurance provider’s stock worth $954,000 after buying an additional 426 shares in the last quarter. Good Life Advisors LLC raised its stake in shares of Truist Financial by 20.2% in the third quarter. Good Life Advisors LLC now owns 12,759 shares of the insurance provider’s stock valued at $546,000 after acquiring an additional 2,143 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of Truist Financial by 3.0% in the 3rd quarter. Global Retirement Partners LLC now owns 55,599 shares of the insurance provider’s stock worth $2,378,000 after acquiring an additional 1,638 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on TFC. Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Morgan Stanley lifted 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. Compass Point increased their price objective 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. Piper Sandler boosted their target price on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Citigroup increased their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Eleven 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.79.

Insider Activity

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction that occurred 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 transaction, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the stock in a transaction dated Monday, November 25th. The shares were bought at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the transaction, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $46.80 on Friday. The firm’s 50 day simple moving average is $45.53 and its 200 day simple moving average is $44.35. Truist Financial Co. has a fifty-two week low of $34.26 and a fifty-two week high of $49.06. The company has a market capitalization of $62.13 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 1.69 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same period last year, the business posted $0.81 earnings per share. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Truist Financial Co. will post 3.98 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders 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 dividend yield of 4.44%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio is currently 62.46%.

Truist Financial 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.