Truist Financial Co. (NYSE:TFC) Shares Sold by Allworth Financial LP

Allworth Financial LP lessened its holdings in shares of Truist Financial Co. (NYSE:TFC) by 9.2% during the fourth quarter, HoldingsChannel reports. The fund owned 41,926 shares of the insurance provider’s stock after selling 4,235 shares during the period. Allworth Financial LP’s holdings in Truist Financial were worth $1,971,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TFC. AMF Tjanstepension AB acquired a new position in shares of Truist Financial during the 3rd quarter worth $3,208,000. Exchange Traded Concepts LLC lifted its stake in shares of Truist Financial by 395.6% in the third quarter. Exchange Traded Concepts LLC now owns 2,007 shares of the insurance provider’s stock valued at $86,000 after purchasing an additional 1,602 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Truist Financial by 8.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 77,332 shares of the insurance provider’s stock worth $3,307,000 after buying an additional 5,786 shares in the last quarter. Toth Financial Advisory Corp grew its position in Truist Financial by 20.8% during the third quarter. Toth Financial Advisory Corp now owns 6,658 shares of the insurance provider’s stock worth $285,000 after buying an additional 1,147 shares during the period. Finally, Foundations Investment Advisors LLC increased its holdings in Truist Financial by 4.4% in the third quarter. Foundations Investment Advisors LLC now owns 31,898 shares of the insurance provider’s stock valued at $1,364,000 after buying an additional 1,352 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group upped their price target on 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 price target on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Piper Sandler raised their target price on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley upped their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and an average target price of $50.79.

Truist Financial Stock Up 1.5 %

TFC opened at $47.54 on Wednesday. The stock has a market capitalization of $63.10 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. Truist Financial Co. has a 12 month low of $34.26 and a 12 month high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The business has a 50-day moving average of $45.53 and a two-hundred day moving average of $44.37.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. Truist Financial’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.81 earnings per share. On average, research analysts expect that Truist Financial Co. will post 3.98 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date is Friday, February 14th. Truist Financial’s payout ratio is currently 62.46%.

Insider Buying and Selling at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction on Wednesday, December 4th. The stock was 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 in the company, valued at approximately $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 accessible through the SEC website. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of Truist Financial stock in a transaction on 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 purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is owned by company insiders.

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.