Rowlandmiller & PARTNERS.ADV Sells 2,253 Shares of Truist Financial Co. (NYSE:TFC)

Rowlandmiller & PARTNERS.ADV decreased its holdings in Truist Financial Co. (NYSE:TFC) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 198,404 shares of the insurance provider’s stock after selling 2,253 shares during the period. Truist Financial comprises approximately 1.8% of Rowlandmiller & PARTNERS.ADV’s investment portfolio, making the stock its 15th biggest holding. Rowlandmiller & PARTNERS.ADV’s holdings in Truist Financial were worth $8,607,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. AMF Tjanstepension AB acquired a new position in shares of Truist Financial during the third quarter worth $3,208,000. Allspring Global Investments Holdings LLC increased its position in shares of Truist Financial by 8.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 77,332 shares of the insurance provider’s stock worth $3,307,000 after purchasing an additional 5,786 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Truist Financial by 6.3% during the third quarter. Private Advisor Group LLC now owns 79,474 shares of the insurance provider’s stock worth $3,399,000 after purchasing an additional 4,718 shares in the last quarter. Silver Oak Securities Incorporated increased its position in shares of Truist Financial by 18.2% during the third quarter. Silver Oak Securities Incorporated now owns 13,170 shares of the insurance provider’s stock worth $560,000 after purchasing an additional 2,030 shares in the last quarter. Finally, Ballentine Partners LLC increased its position in shares of Truist Financial by 7.0% during the third quarter. Ballentine Partners LLC now owns 26,386 shares of the insurance provider’s stock worth $1,129,000 after purchasing an additional 1,737 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the transaction, the director now owns 11,246 shares in the company, valued at $519,565.20. This represents a 30.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Price Performance

NYSE:TFC opened at $45.67 on Monday. The firm’s fifty day moving average is $45.61 and its two-hundred day moving average is $44.52. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a one year low of $34.26 and a one year high of $49.06. The firm has a market cap of $60.62 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same period in the prior year, the company posted $0.81 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Research analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.55%. The ex-dividend date is Friday, February 14th. Truist Financial’s payout ratio is currently 62.46%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Compass Point upped their price target on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Barclays upped their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Morgan Stanley boosted their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Piper Sandler boosted their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

About Truist Financial

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.