Pathway Financial Advisors LLC Has $526,000 Stock Holdings in Truist Financial Co. (NYSE:TFC)

Pathway Financial Advisors LLC increased its position in shares of Truist Financial Co. (NYSE:TFC) by 2.2% in the fourth quarter, HoldingsChannel reports. The firm owned 12,124 shares of the insurance provider’s stock after purchasing an additional 260 shares during the period. Pathway Financial Advisors LLC’s holdings in Truist Financial were worth $526,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. raised its position in Truist Financial by 48.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock valued at $129,000 after purchasing an additional 971 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Truist Financial by 3.5% in the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock valued at $64,638,000 after buying an additional 50,637 shares in the last quarter. Cadence Bank raised its holdings in shares of Truist Financial by 101.6% in the third quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock valued at $7,920,000 after buying an additional 93,322 shares during the last quarter. Country Club Bank grew its holdings in Truist Financial by 719.8% during the 4th quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock worth $1,973,000 after acquiring an additional 39,949 shares during the last quarter. Finally, David Wealth Management LLC acquired a new stake in Truist Financial in the 4th quarter valued at about $2,354,000. 71.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on TFC. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Piper Sandler upped their target price on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Stephens raised their price target on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Compass Point upped their price objective on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Morgan Stanley raised their target price on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the 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 transaction, the director now owns 11,246 shares in the company, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the company’s stock in a transaction that occurred 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 acquisition, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. The trade was a 5.20 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Trading Up 0.7 %

Truist Financial stock opened at $46.80 on Monday. The company has a market cap of $62.13 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 1.69 and a beta of 1.08. The firm has a 50-day moving average of $45.53 and a 200-day moving average of $44.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a one year low of $34.26 and a one year high of $49.06.

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. The firm had revenue of $5.11 billion during 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 business’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.81 earnings per share. On average, equities analysts expect that Truist Financial Co. will post 3.98 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date is Friday, February 14th. Truist Financial’s payout ratio is currently 62.46%.

About Truist Financial

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.