Truist Financial Co. (NYSE:TFC) Shares Sold by BlueChip Wealth Advisors LLC

BlueChip Wealth Advisors LLC trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC) by 6.1% during the fourth quarter, Holdings Channel reports. The firm owned 56,294 shares of the insurance provider’s stock after selling 3,657 shares during the quarter. Truist Financial comprises 1.4% of BlueChip Wealth Advisors LLC’s portfolio, making the stock its 18th largest holding. BlueChip Wealth Advisors LLC’s holdings in Truist Financial were worth $2,442,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Allstate Corp acquired a new position in Truist Financial during the 4th quarter valued at approximately $1,746,000. Level Four Advisory Services LLC boosted its holdings in shares of Truist Financial by 0.9% during the fourth quarter. Level Four Advisory Services LLC now owns 41,114 shares of the insurance provider’s stock valued at $1,784,000 after acquiring an additional 386 shares during the period. Orion Portfolio Solutions LLC grew its position in shares of Truist Financial by 2.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 99,943 shares of the insurance provider’s stock worth $4,336,000 after acquiring an additional 2,702 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Truist Financial by 13.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 885,234 shares of the insurance provider’s stock worth $38,401,000 after acquiring an additional 104,363 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its position in Truist Financial by 9.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 457,320 shares of the insurance provider’s stock valued at $19,839,000 after purchasing an additional 38,604 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TFC. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and raised their price target for the company from $48.00 to $52.00 in a research note on Wednesday, March 5th. Piper Sandler raised their target price on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Barclays increased their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Stephens boosted their price target on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $50.68.

Truist Financial Price Performance

Shares of TFC opened at $40.46 on Friday. The business’s 50-day moving average is $44.78 and its 200-day moving average is $44.40. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $52.81 billion, a price-to-earnings ratio of 12.15, a P/E/G ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a fifty-two week low of $35.09 and a fifty-two week high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings data 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. The firm had revenue of $5.11 billion for 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 company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 EPS. Equities research analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 5.14%. Truist Financial’s 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.