Good Life Advisors LLC Has $521,000 Stock Holdings in Truist Financial Co. (NYSE:TFC)

Good Life Advisors LLC trimmed its position in shares of Truist Financial Co. (NYSE:TFC) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,018 shares of the insurance provider’s stock after selling 741 shares during the quarter. Good Life Advisors LLC’s holdings in Truist Financial were worth $521,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TFC. Bangor Savings Bank lifted its holdings in Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 272 shares in the last quarter. Valley Wealth Managers Inc. bought a new position in shares of Truist Financial during the 3rd quarter valued at about $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Truist Financial in the 3rd quarter valued at approximately $32,000. Fortitude Family Office LLC increased its stake in Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in Truist Financial during the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Down 1.8 %

Shares of NYSE:TFC opened at $46.67 on Friday. Truist Financial Co. has a 52-week low of $34.26 and a 52-week high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $61.96 billion, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. The company has a 50-day simple moving average of $45.61 and a 200 day simple moving average of $44.44.

Truist Financial (NYSE:TFC) last issued its 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. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.81 EPS. Sell-side analysts forecast that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders 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 annualized dividend and a dividend yield of 4.46%. Truist Financial’s dividend payout ratio is currently 62.46%.

Insider Activity

In related news, CEO William H. Rogers, Jr. purchased 34,180 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the purchase, the chief executive officer now owns 691,451 shares in the company, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TFC. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Citigroup upped their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, January 7th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Finally, Compass Point lifted their target price on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and a consensus price target of $50.79.

About Truist Financial

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.