Truist Financial Co. (NYSE:TFC) Shares Bought by Arkadios Wealth Advisors

Arkadios Wealth Advisors raised its stake in Truist Financial Co. (NYSE:TFCGet Rating) by 44.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,641 shares of the insurance provider’s stock after acquiring an additional 9,070 shares during the period. Arkadios Wealth Advisors’ holdings in Truist Financial were worth $1,406,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TFC. Schroder Investment Management Group boosted its stake in Truist Financial by 21.5% in the fourth quarter. Schroder Investment Management Group now owns 753,131 shares of the insurance provider’s stock valued at $44,096,000 after acquiring an additional 133,329 shares during the period. Gotham Asset Management LLC boosted its stake in Truist Financial by 109.3% in the fourth quarter. Gotham Asset Management LLC now owns 18,539 shares of the insurance provider’s stock valued at $1,085,000 after acquiring an additional 9,683 shares during the period. Rockefeller Capital Management L.P. boosted its stake in Truist Financial by 6.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 235,476 shares of the insurance provider’s stock valued at $13,786,000 after acquiring an additional 14,504 shares during the period. Mutual Advisors LLC boosted its stake in Truist Financial by 2.3% in the fourth quarter. Mutual Advisors LLC now owns 21,444 shares of the insurance provider’s stock valued at $1,256,000 after acquiring an additional 480 shares during the period. Finally, Nissay Asset Management Corp Japan ADV boosted its stake in Truist Financial by 2.6% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 143,265 shares of the insurance provider’s stock valued at $8,388,000 after acquiring an additional 3,579 shares during the period. 73.31% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $44.80 on Friday. The company’s fifty day moving average is $48.74 and its two-hundred day moving average is $50.20. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.54. Truist Financial Co. has a 12-month low of $44.68 and a 12-month high of $68.95. The company has a market cap of $59.42 billion, a P/E ratio of 10.16, a price-to-earnings-growth ratio of 1.99 and a beta of 1.12.

Truist Financial (NYSE:TFCGet Rating) last announced its earnings results on Tuesday, July 19th. The insurance provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.03. Truist Financial had a net margin of 27.25% and a return on equity of 12.14%. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the previous year, the business earned $1.55 EPS. The company’s revenue was up .1% on a year-over-year basis. Equities analysts expect that Truist Financial Co. will post 5 earnings per share for the current fiscal year.

Truist Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 12th were paid a dividend of $0.52 per share. This is an increase from Truist Financial’s previous quarterly dividend of $0.48. This represents a $2.08 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend was Thursday, August 11th. Truist Financial’s payout ratio is 47.17%.

Insider Buying and Selling at Truist Financial

In other news, CEO William H. Rogers, Jr. sold 142,606 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $47.78, for a total transaction of $6,813,714.68. Following the transaction, the chief executive officer now directly owns 862,590 shares in the company, valued at approximately $41,214,550.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley reduced their price objective on Truist Financial from $63.00 to $56.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 12th. Deutsche Bank Aktiengesellschaft reduced their price objective on Truist Financial from $70.00 to $61.00 and set a “buy” rating for the company in a research report on Monday, September 12th. StockNews.com upgraded Truist Financial from a “hold” rating to a “buy” rating in a research report on Thursday. Compass Point downgraded Truist Financial from a “buy” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research report on Monday, August 15th. Finally, Stephens dropped their target price on Truist Financial from $74.00 to $64.00 and set an “overweight” rating on the stock in a report on Tuesday, June 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Truist Financial has a consensus rating of “Hold” and an average target price of $57.63.

Truist Financial Company Profile

(Get Rating)

Truist Financial Corporation, a holding 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.

Further Reading

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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