WealthShield Partners LLC Lowers Position in Truist Financial Co. (NYSE:TFC)

WealthShield Partners LLC trimmed its stake in Truist Financial Co. (NYSE:TFC) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,609 shares of the insurance provider’s stock after selling 1,131 shares during the quarter. WealthShield Partners LLC’s holdings in Truist Financial were worth $1,111,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. World Equity Group Inc. acquired a new position in Truist Financial during the fourth quarter valued at approximately $219,000. Atlantic Family Wealth LLC acquired a new position in Truist Financial during the fourth quarter valued at approximately $222,000. Howard Capital Management Inc. lifted its position in Truist Financial by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 8,815 shares of the insurance provider’s stock valued at $382,000 after buying an additional 454 shares in the last quarter. Wealthspire Advisors LLC lifted its position in Truist Financial by 28.8% during the fourth quarter. Wealthspire Advisors LLC now owns 33,603 shares of the insurance provider’s stock valued at $1,458,000 after buying an additional 7,507 shares in the last quarter. Finally, TCW Group Inc. lifted its position in Truist Financial by 2.6% during the fourth quarter. TCW Group Inc. now owns 18,707 shares of the insurance provider’s stock valued at $812,000 after buying an additional 469 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Down 0.8 %

Shares of NYSE:TFC opened at $45.31 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a fifty day simple moving average of $45.61 and a 200 day simple moving average of $44.54. The firm has a market cap of $60.15 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 12-month low of $34.26 and a 12-month high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion during 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 business’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.81 earnings per share. On average, equities research analysts anticipate that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 4.59%. Truist Financial’s payout ratio is 62.46%.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now owns 11,246 shares in the company, valued at $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on TFC shares. Wells Fargo & Company lifted their price target on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Citigroup lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Finally, 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 report on Monday, January 6th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and an average target price of $50.79.

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.