Truist Financial Co. (NYSE:TFC) Stock Holdings Lowered by WealthShield Partners LLC

WealthShield Partners LLC lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 4.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 25,609 shares of the insurance provider’s stock after selling 1,131 shares during the period. WealthShield Partners LLC’s holdings in Truist Financial were worth $1,111,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of TFC. AMF Tjanstepension AB bought a new position in shares of Truist Financial during the third quarter worth about $3,208,000. Allspring Global Investments Holdings LLC grew its position in shares of Truist Financial by 8.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 77,332 shares of the insurance provider’s stock worth $3,307,000 after acquiring an additional 5,786 shares during the last quarter. Private Advisor Group LLC grew its position in shares of Truist Financial by 6.3% during the third quarter. Private Advisor Group LLC now owns 79,474 shares of the insurance provider’s stock worth $3,399,000 after acquiring an additional 4,718 shares during the last quarter. Allworth Financial LP grew its position in shares of Truist Financial by 4.5% during the third quarter. Allworth Financial LP now owns 46,161 shares of the insurance provider’s stock worth $1,974,000 after acquiring an additional 1,970 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Truist Financial by 14.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,949 shares of the insurance provider’s stock worth $4,377,000 after acquiring an additional 13,018 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

TFC has been the subject of several research analyst reports. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Wells Fargo & Company upped their price objective on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Citigroup upped their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Finally, Stephens upped their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. 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 MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Insider Activity

In other news, Director K. David Jr. Boyer sold 4,966 shares of the company’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 owns 11,246 shares in the company, valued at $519,565.20. This represents a 30.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is owned by corporate insiders.

Truist Financial Price Performance

TFC stock opened at $45.31 on Tuesday. 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 Co. has a one year low of $34.26 and a one year high of $49.06. The firm has a market capitalization of $60.15 billion, a PE ratio of 13.61, a P/E/G ratio of 1.63 and a beta of 1.08. The firm has a 50-day moving average of $45.61 and a two-hundred day moving average of $44.54.

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

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a $0.52 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.59%. Truist Financial’s dividend payout ratio is 62.46%.

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.