Delta Financial Group Inc. Trims Holdings in Truist Financial Co. (NYSE:TFC)

Delta Financial Group Inc. trimmed its holdings in Truist Financial Co. (NYSE:TFC) by 6.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,646 shares of the insurance provider’s stock after selling 320 shares during the quarter. Delta Financial Group Inc.’s holdings in Truist Financial were worth $202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Tradewinds LLC. increased its stake in shares of Truist Financial by 0.5% during the third quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock valued at $1,904,000 after purchasing an additional 222 shares in the last quarter. PBMares Wealth Management LLC increased its position in Truist Financial by 0.8% during the 4th quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock valued at $1,270,000 after buying an additional 224 shares in the last quarter. Koshinski Asset Management Inc. increased its position in Truist Financial by 2.1% during the 4th quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock valued at $470,000 after buying an additional 225 shares in the last quarter. Aaron Wealth Advisors LLC raised its stake in Truist Financial by 3.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock valued at $335,000 after buying an additional 227 shares during the last quarter. Finally, Ignite Planners LLC boosted its holdings in Truist Financial by 1.4% in the fourth quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock worth $772,000 after acquiring an additional 246 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Trading Down 2.1 %

Shares of Truist Financial stock opened at $45.67 on Monday. 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 stock has a market capitalization of $60.62 billion, a PE ratio of 13.71, a P/E/G ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 1-year low of $34.26 and a 1-year high of $49.06. The company’s fifty day simple moving average is $45.61 and its 200-day simple moving average is $44.52.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. Truist Financial’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 earnings per share. As a group, equities analysts anticipate that Truist Financial Co. will post 4 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 annualized dividend and a yield of 4.55%. The ex-dividend date is Friday, February 14th. Truist Financial’s dividend payout ratio is 62.46%.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the company’s 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 completion of the transaction, the director now directly owns 11,246 shares in the company, valued at $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

Analyst Ratings Changes

TFC has been the subject of several recent analyst reports. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, January 7th. Wells Fargo & Company lifted their target price on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods increased their price target 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. Stephens raised their price target on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, The Goldman Sachs Group increased their target price on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.79.

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.