Krilogy Financial LLC Invests $612,000 in Truist Financial Corporation $TFC

Krilogy Financial LLC bought a new stake in shares of Truist Financial Corporation (NYSE:TFC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,890 shares of the insurance provider’s stock, valued at approximately $612,000.

Several other large investors have also added to or reduced their stakes in the business. Aspect Partners LLC boosted its holdings in shares of Truist Financial by 71.5% during the 2nd quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock worth $28,000 after buying an additional 268 shares in the last quarter. Valley Wealth Managers Inc. bought a new position in Truist Financial during the third quarter worth $28,000. Princeton Global Asset Management LLC acquired a new stake in Truist Financial in the second quarter worth $30,000. Capital A Wealth Management LLC grew its holdings in Truist Financial by 1,189.5% in the second quarter. Capital A Wealth Management LLC now owns 735 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 678 shares during the period. Finally, Darwin Wealth Management LLC increased its stake in Truist Financial by 631.6% in the third quarter. Darwin Wealth Management LLC now owns 695 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Down 0.4%

NYSE TFC opened at $51.86 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The business has a fifty day simple moving average of $50.86 and a 200 day simple moving average of $47.01. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $56.19. The firm has a market capitalization of $66.34 billion, a P/E ratio of 13.61, a PEG ratio of 0.88 and a beta of 0.89.

Truist Financial (NYSE:TFC) last posted its earnings results on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.09). The firm had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.32 billion. Truist Financial had a return on equity of 9.03% and a net margin of 17.09%.The business’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS. On average, analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be paid a $0.52 dividend. The ex-dividend date is Friday, February 13th. This represents a $2.08 annualized dividend and a yield of 4.0%. Truist Financial’s dividend payout ratio (DPR) is 54.59%.

Truist Financial declared that its Board of Directors has authorized a share buyback program on Tuesday, December 16th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to purchase up to 15.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

TFC has been the subject of several research reports. Piper Sandler raised their target price on Truist Financial from $50.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, January 22nd. UBS Group set a $55.00 price target on Truist Financial in a report on Tuesday, October 21st. TD Cowen boosted their price objective on Truist Financial from $59.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Argus increased their target price on Truist Financial from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Finally, Morgan Stanley boosted their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 17th. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Truist Financial presently has a consensus rating of “Hold” and a consensus target price of $55.60.

Insiders Place Their Bets

In related news, CAO Cynthia B. Powell sold 3,500 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $52.49, for a total transaction of $183,715.00. Following the completion of the sale, the chief accounting officer directly owned 667 shares of the company’s stock, valued at approximately $35,010.83. This trade represents a 83.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael Baron Maguire sold 13,000 shares of the business’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $50.13, for a total value of $651,690.00. Following the completion of the transaction, the chief financial officer directly owned 74,323 shares in the company, valued at approximately $3,725,811.99. This represents a 14.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,660 shares of company stock valued at $1,075,087 in the last 90 days. 0.17% of the stock is currently owned by corporate insiders.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.