Truist Financial Co. (NYSE:TFC) Shares Purchased by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC increased its position in shares of Truist Financial Co. (NYSE:TFC) by 0.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 253,390 shares of the insurance provider’s stock after buying an additional 535 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Truist Financial were worth $10,992,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tompkins Financial Corp increased its stake in shares of Truist Financial by 70.7% in the 4th quarter. Tompkins Financial Corp now owns 5,412 shares of the insurance provider’s stock valued at $235,000 after purchasing an additional 2,241 shares in the last quarter. Hennessy Advisors Inc. grew its holdings in Truist Financial by 22.7% in the fourth quarter. Hennessy Advisors Inc. now owns 27,000 shares of the insurance provider’s stock valued at $1,171,000 after purchasing an additional 5,000 shares during the period. KMG Fiduciary Partners LLC purchased a new stake in shares of Truist Financial in the fourth quarter valued at approximately $1,708,000. Ritholtz Wealth Management acquired a new stake in Truist Financial in the 4th quarter valued at $244,000. Finally, Carnegie Investment Counsel increased its holdings in Truist Financial by 1.1% in the 4th quarter. Carnegie Investment Counsel now owns 52,203 shares of the insurance provider’s stock worth $2,265,000 after acquiring an additional 557 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insiders Place Their Bets

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 transaction of $229,429.20. Following the completion of the transaction, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William H. Rogers, Jr. bought 34,180 shares of Truist Financial stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the acquisition, the chief executive officer now owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Truist Financial Trading Down 1.0 %

NYSE:TFC opened at $44.95 on Friday. Truist Financial Co. has a fifty-two week low of $34.23 and a fifty-two week high of $49.06. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average price of $45.38 and a 200 day moving average price of $43.47.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5,047,370 billion. During the same period last year, the business posted $0.81 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, equities analysts forecast that Truist Financial Co. will post 3.61 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.63%. The ex-dividend date was Friday, November 8th. Truist Financial’s dividend payout ratio is currently -145.45%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Barclays boosted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Royal Bank of Canada lifted their price target on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. UBS Group raised their price objective on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Stephens reaffirmed an “overweight” rating and set a $54.00 target price on shares of Truist Financial in a report on Thursday, January 2nd. Finally, Piper Sandler raised their price target on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.95.

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.