Truist Financial Co. (NYSE:TFC) Shares Sold by Diversified Trust Co

Diversified Trust Co trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,136 shares of the insurance provider’s stock after selling 542 shares during the period. Diversified Trust Co’s holdings in Truist Financial were worth $7,771,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of TFC. Principal Financial Group Inc. raised its holdings in shares of Truist Financial by 3.5% in the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after acquiring an additional 50,637 shares during the last quarter. Cadence Bank increased its position in Truist Financial by 101.6% during the 3rd quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock worth $7,920,000 after purchasing an additional 93,322 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Truist Financial by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock valued at $346,957,000 after purchasing an additional 299,196 shares during the last quarter. Boston Common Asset Management LLC lifted its holdings in Truist Financial by 66.4% in the 3rd quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock valued at $6,609,000 after purchasing an additional 61,683 shares in the last quarter. Finally, Independent Advisor Alliance boosted its stake in shares of Truist Financial by 10.7% during the 3rd quarter. Independent Advisor Alliance now owns 282,607 shares of the insurance provider’s stock worth $12,087,000 after purchasing an additional 27,408 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TFC. Wells Fargo & Company boosted their price objective 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. Stephens reissued an “overweight” rating and set a $54.00 price target on shares of Truist Financial in a research note on Thursday, January 2nd. JPMorgan Chase & Co. raised their price objective on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Barclays upped their target price on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Truist Financial has a consensus rating of “Hold” and a consensus target price of $49.89.

Truist Financial Stock Up 0.6 %

Truist Financial stock traded up $0.27 during trading on Tuesday, reaching $44.37. 1,660,077 shares of the company’s stock were exchanged, compared to its average volume of 4,455,142. The company’s 50-day moving average is $45.31 and its two-hundred day moving average is $43.20. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. Truist Financial Co. has a 52-week low of $34.23 and a 52-week high of $49.06. The firm has a market cap of $58.90 billion, a price-to-earnings ratio of -31.03, a PEG ratio of 1.88 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The business had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. On average, analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.69%. Truist Financial’s dividend payout ratio is currently -145.45%.

Insider Transactions at Truist Financial

In other news, CEO William H. Rogers, Jr. acquired 34,180 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the transaction, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value 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 represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

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.