Wealthcare Advisory Partners LLC Acquires 53,737 Shares of Truist Financial Co. (NYSE:TFC)

Wealthcare Advisory Partners LLC increased its stake in shares of Truist Financial Co. (NYSE:TFC) by 33.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 215,115 shares of the insurance provider’s stock after purchasing an additional 53,737 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Truist Financial were worth $7,942,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. lifted its stake in Truist Financial by 10.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 348,299 shares of the insurance provider’s stock worth $9,965,000 after purchasing an additional 33,362 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Truist Financial by 4.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 764,736 shares of the insurance provider’s stock worth $21,879,000 after purchasing an additional 33,260 shares during the period. Stratos Wealth Partners LTD. boosted its stake in shares of Truist Financial by 4.8% during the third quarter. Stratos Wealth Partners LTD. now owns 61,154 shares of the insurance provider’s stock valued at $1,750,000 after purchasing an additional 2,781 shares during the period. Forsta AP Fonden increased its stake in shares of Truist Financial by 4.7% in the third quarter. Forsta AP Fonden now owns 311,400 shares of the insurance provider’s stock worth $8,909,000 after buying an additional 14,100 shares during the period. Finally, WealthShield Partners LLC boosted its position in Truist Financial by 318.1% during the 3rd quarter. WealthShield Partners LLC now owns 30,811 shares of the insurance provider’s stock valued at $882,000 after buying an additional 23,442 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the business’s 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 completion of the sale, the director now owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TFC. Royal Bank of Canada increased their price objective on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Jefferies Financial Group raised their target price on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. increased their price target on shares of Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 price objective on shares of Truist Financial in a research report on Monday, April 22nd. Finally, Stephens reiterated an “overweight” rating and issued a $43.00 price objective on shares of Truist Financial in a report on Tuesday, April 23rd. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.88.

Truist Financial Stock Down 0.5 %

TFC stock traded down $0.21 on Tuesday, hitting $39.21. 5,091,338 shares of the company’s stock were exchanged, compared to its average volume of 9,399,230. Truist Financial Co. has a 12-month low of $26.49 and a 12-month high of $40.35. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $52.33 billion, a P/E ratio of -29.87, a price-to-earnings-growth ratio of 2.03 and a beta of 1.07. The firm has a 50 day moving average price of $37.25 and a two-hundred day moving average price of $35.30.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, equities research analysts expect that Truist Financial Co. will post 3.3 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

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.