Truist Financial Co. (NYSE:TFC) Shares Sold by Winch Advisory Services LLC

Winch Advisory Services LLC reduced its stake in shares of Truist Financial Co. (NYSE:TFC) by 46.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 680 shares of the insurance provider’s stock after selling 593 shares during the period. Winch Advisory Services LLC’s holdings in Truist Financial were worth $29,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp lifted its holdings in Truist Financial by 4.6% during the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after buying an additional 2,720,223 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Truist Financial by 316.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock valued at $90,585,000 after acquiring an additional 1,609,351 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Truist Financial by 26.1% during the 3rd quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock valued at $166,892,000 after acquiring an additional 807,648 shares in the last quarter. LPL Financial LLC lifted its stake in Truist Financial by 21.0% during the third quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock worth $155,288,000 after purchasing an additional 630,628 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in Truist Financial in the third quarter worth $26,087,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

NYSE:TFC opened at $45.40 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The business’s 50-day moving average price is $45.41 and its 200 day moving average price is $43.46. Truist Financial Co. has a 52-week low of $34.23 and a 52-week high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The company had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. As a group, sell-side analysts predict that Truist Financial Co. will post 3.61 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.58%. Truist Financial’s dividend payout ratio (DPR) is -145.45%.

Insider Buying and Selling at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the transaction, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of Truist Financial stock in a transaction on Monday, November 25th. The shares were purchased at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on TFC shares. Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. Wells Fargo & Company increased their price objective on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Barclays boosted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and an average price target of $49.89.

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.