Orion Portfolio Solutions LLC Has $4.16 Million Stock Position in Truist Financial Co. (NYSE:TFC)

Orion Portfolio Solutions LLC lowered its stake in shares of Truist Financial Co. (NYSE:TFC) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 97,241 shares of the insurance provider’s stock after selling 1,554 shares during the period. Orion Portfolio Solutions LLC’s holdings in Truist Financial were worth $4,159,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TFC. Sequoia Financial Advisors LLC raised its holdings in shares of Truist Financial by 4.1% during the second quarter. Sequoia Financial Advisors LLC now owns 36,015 shares of the insurance provider’s stock valued at $1,399,000 after purchasing an additional 1,421 shares during the period. Wedmont Private Capital raised its holdings in shares of Truist Financial by 43.3% in the 2nd quarter. Wedmont Private Capital now owns 9,417 shares of the insurance provider’s stock worth $381,000 after acquiring an additional 2,844 shares during the last quarter. M&G Plc acquired a new stake in shares of Truist Financial in the 2nd quarter worth about $2,804,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Truist Financial by 3.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 511,132 shares of the insurance provider’s stock worth $19,857,000 after acquiring an additional 16,553 shares during the last quarter. Finally, Great Valley Advisor Group Inc. acquired a new stake in shares of Truist Financial in the 2nd quarter worth about $245,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TFC shares. The Goldman Sachs Group upped their target price on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. upped their target price on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods increased their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. UBS Group increased their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Piper Sandler increased their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $47.67.

Truist Financial Stock Down 1.0 %

TFC opened at $46.81 on Tuesday. The company has a 50 day moving average of $44.78 and a 200 day moving average of $42.15. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 12 month low of $33.87 and a 12 month high of $49.06. The company has a market cap of $62.13 billion, a PE ratio of -32.73, a price-to-earnings-growth ratio of 1.94 and a beta of 1.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. On average, sell-side analysts expect that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is currently -145.45%.

Insider Activity

In other news, CEO William H. Rogers, Jr. purchased 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The shares were acquired at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the acquisition, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.