Strategic Financial Concepts LLC Takes $661,000 Position in Truist Financial Co. (NYSE:TFC)

Strategic Financial Concepts LLC purchased a new position in Truist Financial Co. (NYSE:TFC) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 15,231 shares of the insurance provider’s stock, valued at approximately $661,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Hedeker Wealth LLC lifted its stake in Truist Financial by 0.7% in the fourth quarter. Hedeker Wealth LLC now owns 97,477 shares of the insurance provider’s stock valued at $4,229,000 after buying an additional 636 shares during the last quarter. GHP Investment Advisors Inc. lifted its position in Truist Financial by 4.8% in the 4th quarter. GHP Investment Advisors Inc. now owns 43,733 shares of the insurance provider’s stock valued at $1,897,000 after purchasing an additional 1,999 shares during the last quarter. Silver Oak Securities Incorporated boosted its stake in Truist Financial by 10.1% during the 4th quarter. Silver Oak Securities Incorporated now owns 14,504 shares of the insurance provider’s stock valued at $629,000 after purchasing an additional 1,334 shares during the period. Legacy CG LLC bought a new position in Truist Financial in the 4th quarter worth about $3,170,000. Finally, Bleakley Financial Group LLC increased its stake in shares of Truist Financial by 2.7% in the fourth quarter. Bleakley Financial Group LLC now owns 37,734 shares of the insurance provider’s stock valued at $1,637,000 after purchasing an additional 988 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Buying and Selling at Truist Financial

In related news, CEO William H. Rogers, Jr. bought 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the transaction, 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 disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $47.36 on Wednesday. The stock has a market cap of $62.87 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. Truist Financial Co. has a 12 month low of $34.23 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 business has a fifty day simple moving average of $45.53 and a 200-day simple moving average of $44.28.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates 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%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 EPS. On average, sell-side analysts anticipate that Truist Financial Co. will post 3.98 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.39%. Truist Financial’s payout ratio is 62.46%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Barclays increased their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Stephens raised their price target on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Piper Sandler upped their price target on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Truist Financial has an average rating of “Moderate Buy” and a consensus target price 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.