Pettyjohn Wood & White Inc. Purchases 4,157 Shares of Truist Financial Co. (NYSE:TFC)

Pettyjohn Wood & White Inc. grew its position in shares of Truist Financial Co. (NYSE:TFC) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,082 shares of the insurance provider’s stock after purchasing an additional 4,157 shares during the period. Pettyjohn Wood & White Inc.’s holdings in Truist Financial were worth $3,517,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. AMF Tjanstepension AB bought a new position in Truist Financial during the third quarter valued at approximately $3,208,000. Pallas Capital Advisors LLC purchased a new stake in shares of Truist Financial in the 3rd quarter valued at $397,000. abrdn plc grew its holdings in shares of Truist Financial by 4.3% during the 3rd quarter. abrdn plc now owns 1,184,313 shares of the insurance provider’s stock valued at $50,452,000 after purchasing an additional 49,157 shares during the last quarter. Fortitude Family Office LLC raised its position in Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares during the period. Finally, Integrated Advisors Network LLC bought a new stake in Truist Financial in the third quarter worth $258,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This represents a 30.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Stock Up 0.9 %

Shares of Truist Financial stock opened at $45.75 on Friday. Truist Financial Co. has a 1 year low of $34.51 and a 1 year high of $49.06. The firm has a market cap of $60.73 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 1.63 and a beta of 1.08. The company has a 50-day moving average of $45.72 and a 200 day moving average of $44.58. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 earnings per share. As a group, sell-side analysts anticipate that Truist Financial Co. will post 4 earnings per share 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 of this dividend is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.55%. Truist Financial’s dividend payout ratio is currently 62.46%.

Wall Street Analyst Weigh In

TFC has been the topic of several analyst reports. Piper Sandler lifted their price objective on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods lifted their price target on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Compass Point raised their target price on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Barclays boosted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.79.

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.