Truist Financial Co. (NYSE:TFC) Shares Sold by ARS Wealth Advisors Group LLC

ARS Wealth Advisors Group LLC reduced its stake in Truist Financial Co. (NYSE:TFC) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,372 shares of the insurance provider’s stock after selling 278 shares during the period. ARS Wealth Advisors Group LLC’s holdings in Truist Financial were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in TFC. LaFleur & Godfrey LLC lifted its stake in shares of Truist Financial by 4.5% in the 4th quarter. LaFleur & Godfrey LLC now owns 108,168 shares of the insurance provider’s stock worth $4,692,000 after acquiring an additional 4,670 shares during the period. Brighton Jones LLC raised its holdings in shares of Truist Financial by 148.5% in the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after purchasing an additional 14,093 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Truist Financial by 31.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 135,803 shares of the insurance provider’s stock worth $5,922,000 after purchasing an additional 32,854 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Truist Financial by 2.7% in the 4th quarter. Bleakley Financial Group LLC now owns 37,734 shares of the insurance provider’s stock worth $1,637,000 after purchasing an additional 988 shares in the last quarter. Finally, Silver Oak Securities Incorporated raised its holdings in shares of Truist Financial by 10.1% in the 4th quarter. Silver Oak Securities Incorporated now owns 14,504 shares of the insurance provider’s stock worth $629,000 after purchasing an additional 1,334 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Performance

TFC stock opened at $40.66 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average of $38.43 and a two-hundred day moving average of $42.65. The company has a market capitalization of $53.25 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 1.63 and a beta of 0.84. Truist Financial Co. has a 12 month low of $33.56 and a 12 month high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.87. The business had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. During the same period in the prior year, the firm earned $0.90 EPS. As a group, equities analysts anticipate that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.12%. The ex-dividend date was Friday, May 9th. Truist Financial’s dividend payout ratio is currently 61.36%.

Wall Street Analyst Weigh In

A number of analysts recently commented on TFC shares. Barclays dropped their target price on shares of Truist Financial from $51.00 to $47.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. TD Cowen started coverage on shares of Truist Financial in a report on Thursday, May 15th. They issued a “hold” rating and a $44.00 target price on the stock. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $48.00 to $52.00 in a report on Wednesday, March 5th. Morgan Stanley dropped their target price on shares of Truist Financial from $50.00 to $43.00 and set an “equal weight” rating on the stock in a report on Monday, April 7th. Finally, Raymond James downgraded shares of Truist Financial from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd. Nine investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and a consensus target price of $47.83.

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.