FDx Advisors Inc. Sells 361 Shares of Truist Financial Co. (NYSE:TFC)

FDx Advisors Inc. cut its holdings in Truist Financial Co. (NYSE:TFC) by 5.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,065 shares of the insurance provider’s stock after selling 361 shares during the period. FDx Advisors Inc.’s holdings in Truist Financial were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. ING Groep NV bought a new position in Truist Financial in the 4th quarter worth about $2,594,000. Hardy Reed LLC increased its position in shares of Truist Financial by 51.7% during the fourth quarter. Hardy Reed LLC now owns 8,742 shares of the insurance provider’s stock valued at $379,000 after buying an additional 2,980 shares during the period. Meitav Investment House Ltd. lifted its holdings in shares of Truist Financial by 15.5% in the fourth quarter. Meitav Investment House Ltd. now owns 20,554 shares of the insurance provider’s stock worth $892,000 after buying an additional 2,762 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Truist Financial by 16.9% in the fourth quarter. Handelsbanken Fonder AB now owns 326,384 shares of the insurance provider’s stock valued at $14,159,000 after acquiring an additional 47,245 shares during the period. Finally, Ieq Capital LLC grew its stake in Truist Financial by 97.9% during the fourth quarter. Ieq Capital LLC now owns 116,070 shares of the insurance provider’s stock valued at $5,035,000 after acquiring an additional 57,429 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. The Goldman Sachs Group increased their target price on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Wells Fargo & Company increased their price objective on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Barclays boosted their target price on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Finally, HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $50.79.

Insider Buying and Selling at Truist Financial

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 bought 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 of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the transaction, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. The trade was a 30.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Price Performance

TFC stock opened at $45.67 on Friday. The firm has a market cap of $60.62 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.66 and a beta of 1.08. The firm’s fifty day moving average is $45.61 and its 200 day moving average is $44.47. Truist Financial Co. has a 52 week low of $34.26 and a 52 week high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the firm earned $0.81 earnings per share. Research analysts predict that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.55%. Truist Financial’s dividend payout ratio (DPR) is currently 62.46%.

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.