Wealthcare Advisory Partners LLC Trims Stock Holdings in Truist Financial Corporation $TFC

Wealthcare Advisory Partners LLC lowered its holdings in Truist Financial Corporation (NYSE:TFC) by 6.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 202,746 shares of the insurance provider’s stock after selling 13,872 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Truist Financial were worth $9,977,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its position in shares of Truist Financial by 148.5% during the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after acquiring an additional 14,093 shares in the last quarter. Woodline Partners LP grew its position in shares of Truist Financial by 39.5% in the first quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock valued at $4,575,000 after purchasing an additional 31,454 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Truist Financial during the 2nd quarter valued at $575,000. CreativeOne Wealth LLC raised its stake in shares of Truist Financial by 8.7% during the 2nd quarter. CreativeOne Wealth LLC now owns 11,486 shares of the insurance provider’s stock valued at $494,000 after purchasing an additional 922 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Truist Financial by 14.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 493,374 shares of the insurance provider’s stock worth $21,189,000 after purchasing an additional 61,097 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Price Performance

Shares of NYSE TFC opened at $44.54 on Friday. The stock’s 50-day simple moving average is $49.44 and its two-hundred day simple moving average is $47.55. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $56.19. The firm has a market capitalization of $55.27 billion, a P/E ratio of 11.69, a P/E/G ratio of 0.76 and a beta of 0.87. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.09). Truist Financial had a net margin of 17.09% and a return on equity of 9.03%. The business had revenue of $4.93 billion for the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the business posted $0.91 EPS. The business’s revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial announced that its board has authorized a share buyback plan on Tuesday, December 16th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 15.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were given a dividend of $0.52 per share. The ex-dividend date was Friday, February 13th. This represents a $2.08 annualized dividend and a yield of 4.7%. Truist Financial’s payout ratio is presently 54.59%.

Insider Buying and Selling

In other Truist Financial news, CAO Cynthia B. Powell sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $52.49, for a total value of $183,715.00. Following the completion of the transaction, the chief accounting officer owned 667 shares of the company’s stock, valued at $35,010.83. The trade was a 83.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Baron Maguire sold 13,000 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $50.13, for a total transaction of $651,690.00. Following the completion of the transaction, the chief financial officer directly owned 74,323 shares in the company, valued at $3,725,811.99. The trade was a 14.89% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on TFC shares. Jefferies Financial Group initiated coverage on Truist Financial in a research note on Thursday. They issued an “underperform” rating and a $35.00 target price for the company. Evercore reiterated an “outperform” rating on shares of Truist Financial in a research report on Thursday, February 5th. Morgan Stanley raised shares of Truist Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $56.00 to $69.00 in a report on Tuesday, February 17th. The Goldman Sachs Group restated a “buy” rating and issued a $58.00 price objective on shares of Truist Financial in a research report on Tuesday, January 6th. Finally, Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and set a $52.00 price objective for the company in a research note on Monday, March 9th. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.13.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.