CarsonAllaria Wealth Management Ltd. Has $158,000 Stock Holdings in Truist Financial Co. (NYSE:TFC)

CarsonAllaria Wealth Management Ltd. decreased its stake in shares of Truist Financial Co. (NYSE:TFC) by 11.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,637 shares of the insurance provider’s stock after selling 457 shares during the period. CarsonAllaria Wealth Management Ltd.’s holdings in Truist Financial were worth $158,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TFC. AMF Tjanstepension AB bought a new position in Truist Financial in the 3rd quarter valued at $3,208,000. Czech National Bank boosted its holdings in Truist Financial by 7.0% in the third quarter. Czech National Bank now owns 272,797 shares of the insurance provider’s stock valued at $11,668,000 after acquiring an additional 17,811 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Truist Financial by 29.7% in the third quarter. GAMMA Investing LLC now owns 24,308 shares of the insurance provider’s stock valued at $1,040,000 after acquiring an additional 5,572 shares during the last quarter. Traveka Wealth LLC acquired a new stake in Truist Financial in the third quarter worth about $244,000. Finally, Atomi Financial Group Inc. raised its holdings in Truist Financial by 29.4% during the 3rd quarter. Atomi Financial Group Inc. now owns 15,676 shares of the insurance provider’s stock worth $670,000 after purchasing an additional 3,562 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. The trade was a 30.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the acquisition, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. The trade was a 5.20 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on TFC. Citigroup lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. UBS Group lifted their target price on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Raymond James increased their price target on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada increased their target price on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Eleven investment 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, Truist Financial has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

Truist Financial Price Performance

Shares of NYSE TFC opened at $47.41 on Wednesday. The company has a fifty day moving average price of $45.53 and a 200 day moving average price of $44.14. Truist Financial Co. has a 1-year low of $34.23 and a 1-year high of $49.06. The firm has a market cap of $62.93 billion, a PE ratio of 14.24, a PEG ratio of 1.69 and a beta of 1.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same period last year, the company earned $0.81 earnings per share. Truist Financial’s quarterly revenue was up 3.4% on a year-over-year basis. Research analysts predict that Truist Financial Co. will post 3.95 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 4.39%. Truist Financial’s 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.