ZWJ Investment Counsel Inc. Has $1.77 Million Stock Holdings in Truist Financial Co. (NYSE:TFC)

ZWJ Investment Counsel Inc. decreased its holdings in Truist Financial Co. (NYSE:TFC) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,949 shares of the insurance provider’s stock after selling 914 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Truist Financial were worth $1,770,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Fairfield Bush & CO. bought a new position in shares of Truist Financial in the 1st quarter valued at about $25,000. OFI Invest Asset Management bought a new position in shares of Truist Financial in the third quarter valued at $26,000. Operose Advisors LLC bought a new position in shares of Truist Financial in the third quarter valued at $31,000. Quarry LP bought a new position in shares of Truist Financial in the first quarter valued at $32,000. Finally, Tyler Stone Wealth Management bought a new position in shares of Truist Financial in the third quarter valued at $33,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

TFC stock traded up $1.09 during midday trading on Friday, reaching $36.80. The company had a trading volume of 10,303,835 shares, compared to its average volume of 9,680,285. The company has a market capitalization of $49.11 billion, a price-to-earnings ratio of -34.07, a price-to-earnings-growth ratio of 2.20 and a beta of 1.08. The stock has a 50 day moving average price of $36.64 and a 200-day moving average price of $34.44. Truist Financial Co. has a 1-year low of $25.56 and a 1-year high of $39.29. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82.

Truist Financial (NYSE:TFC) last posted 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. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same quarter in the previous year, the firm earned $1.30 earnings per share. Equities research analysts expect that Truist Financial Co. will post 3.33 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors 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 5.65%. 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 equities analysts recently weighed in on TFC shares. Barclays raised their target price on shares of Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Royal Bank of Canada lifted their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Jefferies Financial Group lifted their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Raymond James lifted their price objective on shares of Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Finally, Piper Sandler lifted their price objective on shares of Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Truist Financial has an average rating of “Hold” and an average price target of $41.47.

Insider Activity at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the transaction, the director now owns 16,132 shares of the company’s stock, valued at $604,627.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is owned by insiders.

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.