Live Oak Private Wealth LLC Decreases Position in Truist Financial Co. (NYSE:TFC)

Live Oak Private Wealth LLC trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC) by 2.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 15,075 shares of the insurance provider’s stock after selling 335 shares during the period. Live Oak Private Wealth LLC’s holdings in Truist Financial were worth $654,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Beese Fulmer Investment Management Inc. raised its position in shares of Truist Financial by 8.7% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 16,278 shares of the insurance provider’s stock valued at $706,000 after purchasing an additional 1,302 shares during the last quarter. Keystone Financial Group Inc. acquired a new position in Truist Financial during the 4th quarter valued at approximately $917,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Truist Financial by 6.4% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 193,301 shares of the insurance provider’s stock worth $8,385,000 after buying an additional 11,702 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Truist Financial by 1.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,014,852 shares of the insurance provider’s stock worth $130,784,000 after buying an additional 33,527 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Truist Financial by 283.9% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,645 shares of the insurance provider’s stock valued at $202,000 after buying an additional 3,435 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Truist Financial

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

Analyst Upgrades and Downgrades

A number of analysts have commented on TFC shares. UBS Group lifted their price target on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Citigroup upped their target price on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Barclays lifted their price objective 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. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Finally, Raymond James upped their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Eleven 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 stock. According to MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Stock Up 1.0 %

TFC stock opened at $48.14 on Friday. The stock has a market capitalization of $63.90 billion, a P/E ratio of 14.46, a P/E/G ratio of 1.69 and a beta of 1.08. Truist Financial Co. has a 52 week low of $34.23 and a 52 week high of $49.06. The firm has a 50-day simple moving average of $45.52 and a 200-day simple moving average of $44.20. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.81 earnings per share. Equities analysts forecast that Truist Financial Co. will post 3.95 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 4.32%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

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.