Truist Financial Co. (NYSE:TFC) Shares Acquired by Principle Wealth Partners LLC

Principle Wealth Partners LLC grew its holdings in Truist Financial Co. (NYSE:TFC) by 13.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,213 shares of the insurance provider’s stock after purchasing an additional 7,444 shares during the quarter. Principle Wealth Partners LLC’s holdings in Truist Financial were worth $2,334,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TFC. OFI Invest Asset Management acquired a new stake in Truist Financial during the third quarter worth approximately $26,000. Operose Advisors LLC acquired a new stake in Truist Financial during the third quarter worth approximately $31,000. Tyler Stone Wealth Management acquired a new stake in Truist Financial during the third quarter worth approximately $33,000. Morton Brown Family Wealth LLC boosted its position in Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 649 shares during the last quarter. Finally, Authentikos Wealth Advisory LLC acquired a new stake in Truist Financial during the third quarter worth approximately $36,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling 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 shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on TFC. Citigroup increased their price target on shares of Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. 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. Stephens reissued an “overweight” rating and issued a $43.00 target price on shares of Truist Financial in a research note on Tuesday, April 23rd. Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $43.00 target price on shares of Truist Financial in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.97.

Truist Financial Trading Up 0.5 %

NYSE TFC opened at $38.17 on Monday. Truist Financial Co. has a one year low of $25.56 and a one year high of $39.29. The company has a 50-day simple moving average of $36.90 and a 200-day simple moving average of $34.90. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $50.94 billion, a PE ratio of -28.92, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.78 by $0.12. The business had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The company’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 EPS. On average, equities analysts forecast that Truist Financial Co. will post 3.27 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s payout ratio is -157.58%.

Truist Financial Company 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.