J.W. Cole Advisors Inc. Cuts Stake in Truist Financial Co. (NYSE:TFC)

J.W. Cole Advisors Inc. trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC) by 12.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,205 shares of the insurance provider’s stock after selling 3,374 shares during the period. J.W. Cole Advisors Inc.’s holdings in Truist Financial were worth $1,050,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. AMF Tjanstepension AB bought a new position in shares of Truist Financial in the third quarter worth approximately $3,208,000. Exchange Traded Concepts LLC lifted its holdings in Truist Financial by 395.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,007 shares of the insurance provider’s stock worth $86,000 after buying an additional 1,602 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Truist Financial by 8.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 77,332 shares of the insurance provider’s stock worth $3,307,000 after buying an additional 5,786 shares during the last quarter. Toth Financial Advisory Corp increased its stake in shares of Truist Financial by 20.8% during the third quarter. Toth Financial Advisory Corp now owns 6,658 shares of the insurance provider’s stock valued at $285,000 after buying an additional 1,147 shares during the period. Finally, Foundations Investment Advisors LLC raised its holdings in shares of Truist Financial by 4.4% during the third quarter. Foundations Investment Advisors LLC now owns 31,898 shares of the insurance provider’s stock valued at $1,364,000 after acquiring an additional 1,352 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the topic of several recent analyst reports. Morgan Stanley lifted their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group increased their target price on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Raymond James raised their target price on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Stock Up 1.5 %

Truist Financial stock opened at $47.54 on Wednesday. Truist Financial Co. has a 12 month low of $34.26 and a 12 month high of $49.06. The stock has a fifty day simple moving average of $45.53 and a two-hundred day simple moving average of $44.37. 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 firm has a market cap of $63.10 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.69 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share 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 return on equity of 9.32% and a net margin of 15.59%. Truist Financial’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 EPS. Equities analysts predict that Truist Financial Co. will post 3.98 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 34,180 shares of Truist Financial stock in a transaction dated Monday, November 25th. The stock was purchased at an average price 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 of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the transaction, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

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.