Sequoia Financial Advisors LLC Boosts Holdings in Truist Financial Co. (NYSE:TFC)

Sequoia Financial Advisors LLC grew its holdings in shares of Truist Financial Co. (NYSE:TFC) by 4.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,015 shares of the insurance provider’s stock after acquiring an additional 1,421 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Truist Financial were worth $1,399,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TFC. Natixis Advisors L.P. increased its stake in shares of Truist Financial by 30.9% in the fourth quarter. Natixis Advisors L.P. now owns 373,375 shares of the insurance provider’s stock worth $13,783,000 after buying an additional 88,035 shares during the period. Parnassus Investments LLC purchased a new position in shares of Truist Financial in the fourth quarter worth $95,049,000. Rafferty Asset Management LLC boosted its holdings in Truist Financial by 47.7% in the fourth quarter. Rafferty Asset Management LLC now owns 1,185,259 shares of the insurance provider’s stock valued at $43,760,000 after acquiring an additional 382,976 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in Truist Financial by 4.1% in the fourth quarter. Treasurer of the State of North Carolina now owns 624,320 shares of the insurance provider’s stock valued at $23,050,000 after acquiring an additional 24,535 shares in the last quarter. Finally, Norden Group LLC bought a new stake in Truist Financial in the first quarter valued at $2,351,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 57,300 shares of Truist Financial stock in a transaction dated Tuesday, July 23rd. The stock was purchased at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the transaction, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was acquired at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the purchase, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Stephens lifted their price target on shares of Truist Financial from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. JPMorgan Chase & Co. lifted their price target on shares of Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Piper Sandler lifted their price target on shares of Truist Financial from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, May 14th. Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Finally, Baird R W cut shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Truist Financial has a consensus rating of “Hold” and an average price target of $45.30.

Truist Financial Stock Performance

NYSE:TFC traded up $0.24 during mid-day trading on Tuesday, reaching $41.46. The company’s stock had a trading volume of 2,132,526 shares, compared to its average volume of 8,426,765. Truist Financial Co. has a 12-month low of $26.57 and a 12-month high of $45.31. The firm’s fifty day moving average price is $39.78 and its two-hundred day moving average price is $38.19. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The stock has a market cap of $55.48 billion, a P/E ratio of -31.23, a PEG ratio of 1.95 and a beta of 1.06.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same quarter in the previous year, the firm earned $0.95 EPS. Truist Financial’s revenue was down 15.9% on a year-over-year basis. On average, equities analysts forecast that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend is Friday, August 9th. Truist Financial’s payout ratio is currently -157.58%.

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.