Moloney Securities Asset Management LLC Sells 24,289 Shares of Truist Financial Corporation $TFC

Moloney Securities Asset Management LLC cut its position in Truist Financial Corporation (NYSE:TFC) by 46.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 27,687 shares of the insurance provider’s stock after selling 24,289 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Truist Financial were worth $1,266,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TFC. Independent Advisor Alliance lifted its stake in shares of Truist Financial by 9.7% in the third quarter. Independent Advisor Alliance now owns 329,093 shares of the insurance provider’s stock valued at $15,046,000 after buying an additional 29,191 shares in the last quarter. Cullen Capital Management LLC increased its position in shares of Truist Financial by 10.3% during the third quarter. Cullen Capital Management LLC now owns 4,591,783 shares of the insurance provider’s stock worth $209,936,000 after acquiring an additional 427,067 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of Truist Financial by 12.3% in the 3rd quarter. Brookstone Capital Management now owns 336,095 shares of the insurance provider’s stock worth $15,366,000 after acquiring an additional 36,916 shares during the last quarter. Raleigh Capital Management Inc. lifted its position in Truist Financial by 26.9% in the 3rd quarter. Raleigh Capital Management Inc. now owns 44,965 shares of the insurance provider’s stock valued at $2,056,000 after acquiring an additional 9,535 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in Truist Financial by 13.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,652,406 shares of the insurance provider’s stock valued at $76,039,000 after purchasing an additional 201,807 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Robert W. Baird downgraded Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a research note on Monday, December 29th. Barclays lowered shares of Truist Financial from an “equal weight” rating to an “underweight” rating and upped their target price for the stock from $47.00 to $56.00 in a research note on Monday, January 5th. Raymond James Financial increased their target price on shares of Truist Financial from $50.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, January 7th. Finally, Argus boosted their price target on shares of Truist Financial from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial currently has an average rating of “Hold” and an average target price of $54.60.

Insider Activity at Truist Financial

In other news, Director K. David Jr. Boyer sold 5,160 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $46.45, for a total value of $239,682.00. Following the sale, the director owned 10,153 shares of the company’s stock, valued at $471,606.85. The trade was a 33.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Cynthia B. Powell sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $52.49, for a total transaction of $183,715.00. Following the completion of the transaction, the chief accounting officer directly owned 667 shares of the company’s stock, valued at approximately $35,010.83. This trade represents a 83.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 21,660 shares of company stock worth $1,075,087. Company insiders own 0.17% of the company’s stock.

Truist Financial Trading Up 1.3%

Shares of TFC stock opened at $55.86 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.70. The firm has a market cap of $71.46 billion, a P/E ratio of 14.66, a PEG ratio of 0.94 and a beta of 0.89. The company has a 50 day moving average of $50.21 and a 200-day moving average of $46.72. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $56.20.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.09). Truist Financial had a net margin of 17.09% and a return on equity of 9.03%. The firm had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same period last year, the company posted $0.91 earnings per share. Truist Financial’s revenue for the quarter was up 3.6% on a year-over-year basis. Sell-side analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.08 annualized dividend and a yield of 3.7%. Truist Financial’s dividend payout ratio (DPR) is 54.59%.

Truist Financial declared that its Board of Directors has authorized a stock buyback plan on Tuesday, December 16th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the insurance provider to repurchase up to 15.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.