Truist Financial Co. (NYSE:TFC) Stock Position Cut by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC lessened its stake in Truist Financial Co. (NYSE:TFC) by 9.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 230,704 shares of the insurance provider’s stock after selling 22,686 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Truist Financial were worth $9,493,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FWG Holdings LLC boosted its position in shares of Truist Financial by 4.3% during the 4th quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock valued at $267,000 after purchasing an additional 234 shares in the last quarter. Avestar Capital LLC lifted its stake in Truist Financial by 4.1% during the fourth quarter. Avestar Capital LLC now owns 6,299 shares of the insurance provider’s stock valued at $273,000 after purchasing an additional 250 shares during the last quarter. Pathway Financial Advisors LLC boosted its holdings in Truist Financial by 2.2% during the fourth quarter. Pathway Financial Advisors LLC now owns 12,124 shares of the insurance provider’s stock worth $526,000 after buying an additional 260 shares in the last quarter. Nwam LLC boosted its holdings in Truist Financial by 3.2% during the fourth quarter. Nwam LLC now owns 8,395 shares of the insurance provider’s stock worth $364,000 after buying an additional 263 shares in the last quarter. Finally, Wealth Quarterback LLC boosted its holdings in Truist Financial by 1.8% during the fourth quarter. Wealth Quarterback LLC now owns 15,287 shares of the insurance provider’s stock worth $663,000 after buying an additional 266 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Down 0.5%

TFC stock opened at $40.44 on Tuesday. Truist Financial Co. has a 12-month low of $33.56 and a 12-month high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market cap of $52.96 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 1.63 and a beta of 0.84. The company has a 50 day moving average of $38.40 and a two-hundred day moving average of $42.56.

Truist Financial (NYSE:TFC) last released its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. On average, equities analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were given a $0.52 dividend. The ex-dividend date was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.14%. Truist Financial’s payout ratio is 61.36%.

Wall Street Analyst Weigh In

TFC has been the subject of a number of research reports. Raymond James cut shares of Truist Financial from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd. Wells Fargo & Company reduced their target price on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Stephens reduced their target price on shares of Truist Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, April 21st. JPMorgan Chase & Co. reduced their target price on shares of Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Finally, Morgan Stanley reduced their target price on shares of Truist Financial from $50.00 to $43.00 and set an “equal weight” rating for the company in a report on Monday, April 7th. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and an average price target of $47.83.

Truist Financial Company 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.