Truist Financial Co. (NYSE:TFC) Shares Sold by KG&L Capital Management LLC

KG&L Capital Management LLC trimmed its position in shares of Truist Financial Co. (NYSE:TFC) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,629 shares of the insurance provider’s stock after selling 300 shares during the quarter. KG&L Capital Management LLC’s holdings in Truist Financial were worth $982,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Bangor Savings Bank grew its stake in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 272 shares during the period. Valley Wealth Managers Inc. purchased a new stake in Truist Financial during the third quarter worth about $26,000. MidAtlantic Capital Management Inc. purchased a new stake in Truist Financial during the third quarter worth about $32,000. Fortitude Family Office LLC grew its position in Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after buying an additional 678 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new position in Truist Financial in the third quarter valued at about $45,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial 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 sale, the director now directly owns 11,246 shares in the company, valued at $519,565.20. This trade represents a 30.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William H. Rogers, Jr. bought 34,180 shares of Truist Financial stock in a transaction on Monday, November 25th. The shares were purchased at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Truist Financial Stock Down 0.8 %

Shares of Truist Financial stock opened at $47.64 on Friday. 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 firm has a market cap of $63.24 billion, a P/E ratio of 14.31, a P/E/G ratio of 1.68 and a beta of 1.08. Truist Financial Co. has a fifty-two week low of $34.23 and a fifty-two week high of $49.06. The business has a 50-day moving average price of $45.55 and a 200 day moving average price of $44.09.

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

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date is Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

Wall Street Analysts Forecast Growth

TFC has been the subject of several research analyst reports. Stephens raised their price objective on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Royal Bank of Canada upped their target price on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Compass Point lifted their price target on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Barclays boosted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Finally, 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 research report on Friday, October 18th. Eleven 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.