Apollon Wealth Management LLC Acquires 5,345 Shares of Truist Financial Co. (NYSE:TFC)

Apollon Wealth Management LLC grew its holdings in Truist Financial Co. (NYSE:TFC) by 10.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 54,502 shares of the insurance provider’s stock after acquiring an additional 5,345 shares during the period. Apollon Wealth Management LLC’s holdings in Truist Financial were worth $2,364,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. AMF Tjanstepension AB bought a new stake in shares of Truist Financial during the third quarter valued at approximately $3,208,000. CWM LLC grew its stake in Truist Financial by 25.9% during the third quarter. CWM LLC now owns 47,534 shares of the insurance provider’s stock valued at $2,033,000 after acquiring an additional 9,769 shares in the last quarter. Wedmont Private Capital increased its holdings in Truist Financial by 10.1% in the 3rd quarter. Wedmont Private Capital now owns 10,370 shares of the insurance provider’s stock valued at $436,000 after acquiring an additional 953 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Truist Financial by 281.7% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 11,166 shares of the insurance provider’s stock worth $477,000 after purchasing an additional 8,241 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Truist Financial by 395.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,007 shares of the insurance provider’s stock valued at $86,000 after purchasing an additional 1,602 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Down 1.0 %

Shares of TFC opened at $47.68 on Monday. The firm has a market capitalization of $63.30 billion, a P/E ratio of 14.32, a P/E/G ratio of 1.69 and a beta of 1.08. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06. The firm has a fifty day moving average price of $45.53 and a 200-day moving average price of $44.26. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the firm earned $0.81 EPS. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities research analysts expect that Truist Financial Co. will post 3.98 earnings per share for the current year.

Truist Financial Dividend Announcement

The company 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 dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TFC shares. Piper Sandler boosted their target price on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, January 7th. The Goldman Sachs Group raised their target price on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Compass Point increased their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Stephens boosted their target price on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Eleven investment 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. Based on data from MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and an average price target of $50.79.

Insiders Place Their Bets

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 34,180 shares of the 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 owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction that occurred 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 transaction, the director now owns 11,246 shares in the company, valued at approximately $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.