Apollon Wealth Management LLC Purchases 6,080 Shares of Truist Financial Co. (NYSE:TFC)

Apollon Wealth Management LLC increased its position in Truist Financial Co. (NYSE:TFC) by 14.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 46,776 shares of the insurance provider’s stock after buying an additional 6,080 shares during the period. Apollon Wealth Management LLC’s holdings in Truist Financial were worth $1,727,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Machina Capital S.A.S. purchased a new position in Truist Financial in the 4th quarter worth approximately $378,000. Maryland State Retirement & Pension System boosted its holdings in shares of Truist Financial by 1.9% during the 4th quarter. Maryland State Retirement & Pension System now owns 103,233 shares of the insurance provider’s stock valued at $3,811,000 after purchasing an additional 1,932 shares during the last quarter. Wealthcare Advisory Partners LLC increased its holdings in shares of Truist Financial by 33.3% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 215,115 shares of the insurance provider’s stock worth $7,942,000 after purchasing an additional 53,737 shares during the last quarter. Spire Wealth Management boosted its stake in Truist Financial by 2.3% during the fourth quarter. Spire Wealth Management now owns 29,055 shares of the insurance provider’s stock valued at $1,089,000 after buying an additional 657 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in Truist Financial by 138.2% in the 4th quarter. National Bank of Canada FI now owns 1,294,699 shares of the insurance provider’s stock worth $48,556,000 after acquiring an additional 751,261 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 0.2 %

NYSE:TFC traded up $0.06 during trading hours on Wednesday, reaching $39.17. The company’s stock had a trading volume of 1,241,998 shares, compared to its average volume of 9,364,314. The stock has a 50 day moving average price of $37.34 and a two-hundred day moving average price of $35.39. 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 company has a market capitalization of $52.28 billion, a P/E ratio of -29.52, a price-to-earnings-growth ratio of 2.03 and a beta of 1.07. Truist Financial Co. has a 12 month low of $26.49 and a 12 month high of $40.35.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping 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 firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period in the previous year, the company posted $1.09 EPS. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. Equities analysts predict that Truist Financial Co. will post 3.3 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company 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 5.31%. The ex-dividend date is Thursday, May 9th. Truist Financial’s payout ratio is currently -157.58%.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.17% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. TheStreet cut shares of Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Royal Bank of Canada boosted their price objective on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. HSBC boosted their target price on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Morgan Stanley reissued an “equal weight” rating and issued a $43.00 target price on shares of Truist Financial in a research note on Monday, April 22nd. Finally, Citigroup upped their price target on shares of Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.94.

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.