Truist Financial Co. (NYSE:TFC) Shares Acquired by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC grew its holdings in Truist Financial Co. (NYSE:TFC) by 46.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 45,957 shares of the insurance provider’s stock after acquiring an additional 14,474 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Truist Financial were worth $1,966,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new position in shares of Truist Financial in the first quarter worth about $27,000. Opal Wealth Advisors LLC purchased a new position in shares of Truist Financial in the first quarter worth about $29,000. MFA Wealth Advisors LLC purchased a new position in shares of Truist Financial in the second quarter worth about $30,000. Y.D. More Investments Ltd purchased a new position in shares of Truist Financial in the second quarter worth about $31,000. Finally, Rise Advisors LLC purchased a new position in shares of Truist Financial in the first quarter worth about $32,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

TFC has been the topic of several recent research reports. Morgan Stanley upped their price objective on Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Robert W. Baird cut Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research report on Wednesday, July 17th. Argus increased their target price on Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $45.45.

Insiders Place Their Bets

In other news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William H. Rogers, Jr. acquired 57,300 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was acquired at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the acquisition, the chief executive officer now owns 569,271 shares in the company, valued at approximately $25,025,153.16. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is owned by company insiders.

Truist Financial Price Performance

TFC opened at $43.26 on Friday. The stock’s 50-day moving average price is $42.45 and its 200 day moving average price is $40.11. Truist Financial Co. has a 12-month low of $26.95 and a 12-month high of $45.31. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The firm has a market cap of $57.93 billion, a price-to-earnings ratio of -26.70, a PEG ratio of 1.78 and a beta of 1.05.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter in the prior year, the business earned $0.95 EPS. Truist Financial’s revenue was down 15.9% on a year-over-year basis. As a group, sell-side analysts expect that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 4.81%. Truist Financial’s dividend payout ratio (DPR) is -128.40%.

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.