Octavia Wealth Advisors LLC Buys 6,415 Shares of Truist Financial Co. (NYSE:TFC)

Octavia Wealth Advisors LLC grew its stake in Truist Financial Co. (NYSE:TFC) by 77.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,691 shares of the insurance provider’s stock after acquiring an additional 6,415 shares during the period. Octavia Wealth Advisors LLC’s holdings in Truist Financial were worth $542,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TFC. EPG Wealth Management LLC grew its holdings in Truist Financial by 1.8% during the 4th quarter. EPG Wealth Management LLC now owns 12,219 shares of the insurance provider’s stock worth $526,000 after acquiring an additional 213 shares in the last quarter. Williams Jones Wealth Management LLC. raised its position in Truist Financial by 5.8% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 4,850 shares of the insurance provider’s stock valued at $275,000 after purchasing an additional 268 shares during the last quarter. Financial Advocates Investment Management raised its position in Truist Financial by 3.5% in the 4th quarter. Financial Advocates Investment Management now owns 9,071 shares of the insurance provider’s stock valued at $390,000 after purchasing an additional 306 shares during the last quarter. Day & Ennis LLC raised its position in Truist Financial by 4.3% in the 4th quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock valued at $278,000 after purchasing an additional 311 shares during the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA raised its position in Truist Financial by 32.0% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,333 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 323 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TFC has been the subject of several research reports. UBS Group upped their price target on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Barclays upped their price target on shares of Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Stephens upgraded shares of Truist Financial from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $41.00 to $43.00 in a research report on Tuesday, March 19th. Royal Bank of Canada upped their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $41.47.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.17% of the company’s stock.

Truist Financial Price Performance

Truist Financial stock opened at $35.63 on Wednesday. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $39.29. The stock has a market capitalization of $47.55 billion, a P/E ratio of -32.99, a P/E/G ratio of 2.26 and a beta of 1.08. The firm’s 50-day moving average is $36.62 and its two-hundred day moving average is $34.36. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.13. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same period last year, the company earned $1.30 EPS. Equities analysts predict that Truist Financial Co. will post 3.33 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 5.84%. Truist Financial’s payout ratio is currently -192.59%.

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.