Strategic Advisors LLC Sells 483 Shares of Truist Financial Co. (NYSE:TFC)

Strategic Advisors LLC lowered its stake in shares of Truist Financial Co. (NYSE:TFC) by 2.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 21,320 shares of the insurance provider’s stock after selling 483 shares during the quarter. Strategic Advisors LLC’s holdings in Truist Financial were worth $787,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Fairfield Bush & CO. bought a new position in shares of Truist Financial during the 1st quarter valued at approximately $25,000. OFI Invest Asset Management bought a new position in Truist Financial in the 3rd quarter valued at $26,000. Operose Advisors LLC bought a new position in Truist Financial in the 3rd quarter valued at $31,000. Quarry LP bought a new position in Truist Financial in the 1st quarter valued at $32,000. Finally, Tyler Stone Wealth Management bought a new position in Truist Financial in the 3rd quarter valued at $33,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 1.0 %

Shares of NYSE TFC traded up $0.39 during mid-day trading on Friday, reaching $38.98. 8,405,594 shares of the company were exchanged, compared to its average volume of 9,753,314. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. The stock has a market cap of $52.02 billion, a price-to-earnings ratio of -36.09, a P/E/G ratio of 1.64 and a beta of 1.07. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $39.29. The firm has a 50-day moving average of $36.50 and a 200 day moving average of $33.52.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same period last year, the business posted $1.30 earnings per share. On average, research analysts expect that Truist Financial Co. will post 3.39 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date was Thursday, February 8th. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.

Analysts Set New Price Targets

Several brokerages have commented on TFC. Odeon Capital Group raised Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 price objective on the stock in a research report on Thursday, December 14th. UBS Group upped their price objective on Truist Financial from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Keefe, Bruyette & Woods upped their price objective on Truist Financial from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Barclays increased their price target on Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Wells Fargo & Company increased their price target on Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $40.30.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.17% of the stock is currently owned by company insiders.

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.