Kestra Private Wealth Services LLC Purchases 4,725 Shares of Truist Financial Co. (NYSE:TFC)

Kestra Private Wealth Services LLC boosted its position in shares of Truist Financial Co. (NYSE:TFC) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,324 shares of the insurance provider’s stock after acquiring an additional 4,725 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Truist Financial were worth $3,528,000 at the end of the most recent reporting period.

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

Truist Financial Trading Down 1.1 %

TFC opened at $47.15 on Tuesday. The company’s 50 day moving average is $45.53 and its 200-day moving average is $44.26. Truist Financial Co. has a 1-year low of $34.23 and a 1-year high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market cap of $62.60 billion, a P/E ratio of 14.16, a PEG ratio of 1.69 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its quarterly 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. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period last year, the company posted $0.81 EPS. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities research analysts predict that Truist Financial Co. will post 3.98 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced 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 of this dividend is Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 4.41%. Truist Financial’s dividend payout ratio is presently 62.46%.

Insider Buying and Selling

In other Truist Financial news, CEO William H. Rogers, Jr. bought 34,180 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial 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 sale, the director now owns 11,246 shares in the company, valued at approximately $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TFC has been the topic of several research analyst reports. Raymond James increased their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group increased their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. UBS Group raised their price target 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. Royal Bank of Canada raised their price target on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus 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.