Strategic Advisors LLC Grows Stake in Truist Financial Co. (NYSE:TFC)

Strategic Advisors LLC raised its position in shares of Truist Financial Co. (NYSE:TFC) by 9.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,100 shares of the insurance provider’s stock after buying an additional 1,500 shares during the quarter. Strategic Advisors LLC’s holdings in Truist Financial were worth $742,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Pathway Financial Advisors LLC grew its holdings in Truist Financial by 2.2% during the 4th quarter. Pathway Financial Advisors LLC now owns 12,124 shares of the insurance provider’s stock valued at $526,000 after buying an additional 260 shares in the last quarter. Nkcfo LLC purchased a new position in Truist Financial during the 4th quarter valued at approximately $2,542,000. Strategic Financial Concepts LLC purchased a new position in Truist Financial during the 4th quarter valued at approximately $661,000. Principal Securities Inc. grew its holdings in Truist Financial by 6.2% during the 4th quarter. Principal Securities Inc. now owns 51,899 shares of the insurance provider’s stock valued at $2,251,000 after buying an additional 3,041 shares in the last quarter. Finally, Congress Asset Management Co. purchased a new position in Truist Financial during the 4th quarter valued at approximately $1,387,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling

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

Truist Financial Trading Up 0.7 %

Shares of NYSE:TFC opened at $46.80 on Monday. Truist Financial Co. has a 12-month low of $34.26 and a 12-month high of $49.06. The business’s fifty day simple moving average is $45.53 and its 200-day simple moving average is $44.35. The company has a market capitalization of $62.13 billion, a PE ratio of 14.06, a P/E/G ratio of 1.69 and a beta of 1.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results 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. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business 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 business posted $0.81 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts predict that Truist Financial Co. will post 3.98 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

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 paid a dividend of $0.52 per share. The ex-dividend date is Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 4.44%. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TFC shares. Morgan Stanley raised their price objective on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods raised their price objective on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Barclays raised their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Piper Sandler raised their price objective on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Compass Point raised their price objective on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Company 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.