Orion Porfolio Solutions LLC Lowers Stock Holdings in Truist Financial Corporation $TFC

Orion Porfolio Solutions LLC reduced its stake in Truist Financial Corporation (NYSE:TFC) by 14.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,589 shares of the insurance provider’s stock after selling 16,094 shares during the period. Orion Porfolio Solutions LLC’s holdings in Truist Financial were worth $4,370,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its position in Truist Financial by 148.5% during the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after purchasing an additional 14,093 shares in the last quarter. Woodline Partners LP lifted its holdings in shares of Truist Financial by 39.5% in the 1st quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock worth $4,575,000 after buying an additional 31,454 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Truist Financial during the 2nd quarter worth $575,000. AE Wealth Management LLC grew its position in shares of Truist Financial by 2.3% during the 2nd quarter. AE Wealth Management LLC now owns 494,280 shares of the insurance provider’s stock worth $21,249,000 after buying an additional 10,891 shares in the last quarter. Finally, Prospera Financial Services Inc increased its stake in shares of Truist Financial by 8.3% during the second quarter. Prospera Financial Services Inc now owns 51,579 shares of the insurance provider’s stock valued at $2,218,000 after buying an additional 3,950 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Price Performance

Shares of TFC opened at $46.40 on Monday. The business’s 50-day moving average is $51.01 and its two-hundred day moving average is $47.72. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market capitalization of $57.96 billion, a P/E ratio of 12.18, a P/E/G ratio of 0.79 and a beta of 0.87. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $56.19.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.09). The firm had revenue of $4.93 billion during the quarter, compared to analyst estimates of $5.32 billion. Truist Financial had a return on equity of 9.03% and a net margin of 17.09%.The company’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $0.91 EPS. Research analysts predict that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial announced that its Board of Directors has authorized a stock buyback program on Tuesday, December 16th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 15.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were issued a $0.52 dividend. The ex-dividend date was Friday, February 13th. This represents a $2.08 dividend on an annualized basis and a yield of 4.5%. Truist Financial’s dividend payout ratio (DPR) is presently 54.59%.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, CFO Michael Baron Maguire sold 13,000 shares of the firm’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 sale, the chief financial officer directly owned 74,323 shares of the company’s stock, valued at $3,725,811.99. This trade represents a 14.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Cynthia B. Powell sold 3,500 shares of Truist Financial stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $52.49, for a total value of $183,715.00. Following the completion of the sale, the chief accounting officer owned 667 shares in the company, valued at $35,010.83. This represents a 83.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TFC shares. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Truist Financial in a research note on Tuesday, January 6th. TD Cowen raised their target price on shares of Truist Financial from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Raymond James Financial boosted their price target on shares of Truist Financial from $50.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, January 7th. Barclays cut shares of Truist Financial from an “equal weight” rating to an “underweight” rating and upped their price target for the stock from $47.00 to $56.00 in a research report on Monday, January 5th. Finally, Morgan Stanley raised shares of Truist Financial from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $56.00 to $69.00 in a report on Tuesday, February 17th. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $56.47.

Truist Financial 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.