Good Life Advisors LLC Sells 741 Shares of Truist Financial Co. (NYSE:TFC)

Good Life Advisors LLC cut its holdings in shares of Truist Financial Co. (NYSE:TFC) by 5.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,018 shares of the insurance provider’s stock after selling 741 shares during the quarter. Good Life Advisors LLC’s holdings in Truist Financial were worth $521,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TFC. Global Retirement Partners LLC increased its stake in Truist Financial by 0.8% during the 4th quarter. Global Retirement Partners LLC now owns 56,019 shares of the insurance provider’s stock worth $2,430,000 after acquiring an additional 420 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Truist Financial during the 4th quarter worth $133,000. Atria Wealth Solutions Inc. increased its position in shares of Truist Financial by 76.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 53,450 shares of the insurance provider’s stock worth $2,319,000 after purchasing an additional 23,194 shares during the period. Venturi Wealth Management LLC raised its stake in Truist Financial by 64.2% in the fourth quarter. Venturi Wealth Management LLC now owns 16,799 shares of the insurance provider’s stock valued at $729,000 after purchasing an additional 6,570 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its position in Truist Financial by 14.4% during the fourth quarter. D.A. Davidson & CO. now owns 31,200 shares of the insurance provider’s stock worth $1,353,000 after purchasing an additional 3,937 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. The Goldman Sachs Group raised their target price on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Citigroup upped their target price on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Raymond James lifted their price target on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Barclays boosted their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Eleven investment 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 company’s stock. According to data from MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the transaction, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. The trade was a 30.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the purchase, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $46.67 on Friday. The stock has a market cap of $61.96 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 1.67 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a twelve month low of $34.26 and a twelve month high of $49.06. The company’s fifty day moving average is $45.61 and its 200 day moving average is $44.44.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the prior year, the firm posted $0.81 earnings per share. The business’s quarterly revenue was up 3.4% on a year-over-year basis. Sell-side analysts forecast that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued 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 4.46%. Truist Financial’s payout ratio is 62.46%.

About Truist Financial

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.