Atria Wealth Solutions Inc. Purchases 23,194 Shares of Truist Financial Co. (NYSE:TFC)

Atria Wealth Solutions Inc. raised its position in Truist Financial Co. (NYSE:TFC) by 76.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 53,450 shares of the insurance provider’s stock after buying an additional 23,194 shares during the period. Atria Wealth Solutions Inc.’s holdings in Truist Financial were worth $2,319,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. State Street Corp raised its holdings in Truist Financial by 4.6% in the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after buying an additional 2,720,223 shares during the last quarter. Geode Capital Management LLC increased its position in Truist Financial by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock valued at $1,169,350,000 after acquiring an additional 456,412 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Truist Financial by 3.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,431,037 shares of the insurance provider’s stock valued at $403,365,000 after acquiring an additional 288,306 shares during the last quarter. FMR LLC lifted its holdings in shares of Truist Financial by 10.6% during the third quarter. FMR LLC now owns 5,003,106 shares of the insurance provider’s stock worth $213,983,000 after purchasing an additional 478,886 shares during the period. Finally, HighTower Advisors LLC grew its stake in shares of Truist Financial by 26.1% in the third quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock worth $166,892,000 after purchasing an additional 807,648 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Truist Financial

In related news, CEO William H. Rogers, Jr. acquired 34,180 shares of the company’s stock in a transaction on Monday, November 25th. The shares were acquired at an average cost 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 in the company, valued at approximately $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TFC has been the subject of several analyst reports. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Morgan Stanley raised their price objective on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Citigroup raised their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Finally, Raymond James upped their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Trading Down 2.1 %

Shares of Truist Financial stock opened at $45.67 on Friday. The stock has a market capitalization of $60.62 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 1.66 and a beta of 1.08. Truist Financial Co. has a 52 week low of $34.26 and a 52 week high of $49.06. The stock has a 50 day moving average price of $45.61 and a two-hundred day moving average price of $44.47. 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 posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating 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 business 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 posted $0.81 EPS. Truist Financial’s revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm 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. The ex-dividend date is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.55%. Truist Financial’s dividend payout ratio is presently 62.46%.

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.