Global Retirement Partners LLC Raises Stake in Truist Financial Co. (NYSE:TFC)

Global Retirement Partners LLC boosted its position in Truist Financial Co. (NYSE:TFC) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,019 shares of the insurance provider’s stock after buying an additional 420 shares during the quarter. Global Retirement Partners LLC’s holdings in Truist Financial were worth $2,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Kestra Investment Management LLC purchased a new stake in Truist Financial in the fourth quarter worth approximately $133,000. Atria Wealth Solutions Inc. lifted its position in Truist Financial by 76.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 53,450 shares of the insurance provider’s stock valued at $2,319,000 after purchasing an additional 23,194 shares during the last quarter. Venturi Wealth Management LLC lifted its position in Truist Financial by 64.2% in the fourth quarter. Venturi Wealth Management LLC now owns 16,799 shares of the insurance provider’s stock valued at $729,000 after purchasing an additional 6,570 shares during the last quarter. D.A. Davidson & CO. lifted its position in Truist Financial by 14.4% in the fourth quarter. D.A. Davidson & CO. now owns 31,200 shares of the insurance provider’s stock valued at $1,353,000 after purchasing an additional 3,937 shares during the last quarter. Finally, Citizens & Northern Corp lifted its position in Truist Financial by 2.5% in the fourth quarter. Citizens & Northern Corp now owns 36,575 shares of the insurance provider’s stock valued at $1,587,000 after purchasing an additional 907 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 34,180 shares of Truist Financial stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the acquisition, the chief executive officer now owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the sale, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. The trade was 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.

Wall Street Analyst Weigh In

TFC has been the subject of several recent research reports. Wells Fargo & Company boosted their price objective on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, January 7th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Compass Point upped their target price on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and an average target price of $50.79.

Truist Financial Trading Down 1.8 %

NYSE TFC opened at $46.67 on Friday. Truist Financial Co. has a 12 month low of $34.26 and a 12 month high of $49.06. The stock has a market cap of $61.96 billion, a P/E ratio of 14.02, a P/E/G ratio of 1.67 and a beta of 1.08. The stock’s fifty day moving average price is $45.61 and its 200-day moving average price is $44.44. 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 released 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 return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the prior year, the firm posted $0.81 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, equities analysts forecast that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.52 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.46%. Truist Financial’s dividend payout ratio is currently 62.46%.

Truist Financial 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.