Kentucky Trust Co Invests $1.74 Million in Truist Financial Co. (NYSE:TFC)

Kentucky Trust Co acquired a new position in shares of Truist Financial Co. (NYSE:TFC) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 40,145 shares of the insurance provider’s stock, valued at approximately $1,741,000.

Several other large investors have also modified their holdings of TFC. AMF Tjanstepension AB purchased a new position in shares of Truist Financial during the 3rd quarter worth about $3,208,000. CWM LLC increased its position in Truist Financial by 25.9% during the 3rd quarter. CWM LLC now owns 47,534 shares of the insurance provider’s stock worth $2,033,000 after purchasing an additional 9,769 shares in the last quarter. Exchange Traded Concepts LLC increased its position in Truist Financial by 395.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,007 shares of the insurance provider’s stock worth $86,000 after purchasing an additional 1,602 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in Truist Financial by 83.9% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,992 shares of the insurance provider’s stock worth $85,000 after purchasing an additional 909 shares in the last quarter. Finally, Grove Bank & Trust increased its position in Truist Financial by 170.8% during the 3rd quarter. Grove Bank & Trust now owns 5,443 shares of the insurance provider’s stock worth $233,000 after purchasing an additional 3,433 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Up 0.4 %

TFC stock opened at $47.36 on Wednesday. Truist Financial Co. has a twelve month low of $34.23 and a twelve month high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $62.87 billion, a P/E ratio of 14.22, a PEG ratio of 1.69 and a beta of 1.08. The firm has a 50 day simple moving average of $45.53 and a 200-day simple moving average of $44.28.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data 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 return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period last year, the business posted $0.81 earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities research analysts predict that Truist Financial Co. will post 3.98 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors 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 yield of 4.39%. The ex-dividend date is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TFC. Raymond James increased their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Royal Bank of Canada increased their target price on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Wells Fargo & Company increased their target price on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, The Goldman Sachs Group increased their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.79.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the sale, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The stock was bought at an average price of $48.56 per share, for a total transaction 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 $33,576,860.56. The trade was a 5.20 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.

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.