C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Has $325,000 Stock Holdings in Truist Financial Co. (NYSE:TFC)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors decreased its stake in Truist Financial Co. (NYSE:TFC) by 37.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,489 shares of the insurance provider’s stock after selling 4,469 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Truist Financial were worth $325,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TFC. AMF Tjanstepension AB acquired a new stake in Truist Financial during the third quarter worth approximately $3,208,000. Allspring Global Investments Holdings LLC grew its stake in 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 during the period. Foundations Investment Advisors LLC grew its stake in Truist Financial by 4.4% during the third quarter. Foundations Investment Advisors LLC now owns 31,898 shares of the insurance provider’s stock worth $1,364,000 after purchasing an additional 1,352 shares during the period. Eastern Bank acquired a new stake in Truist Financial during the third quarter worth approximately $192,000. Finally, BLB&B Advisors LLC acquired a new stake in Truist Financial during the third quarter worth approximately $454,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TFC shares. Raymond James raised their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Morgan Stanley raised their price objective on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Compass Point raised their price objective on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Piper Sandler raised their price objective on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods raised their price objective on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

Insiders Place Their Bets

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 completion of the sale, the director now directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of Truist Financial stock in a transaction dated Monday, November 25th. The stock was bought at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the transaction, the chief executive officer now owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $46.67 on Friday. The business’s fifty day simple moving average is $45.61 and its 200 day simple moving average is $44.44. The firm has a market capitalization of $61.96 billion, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. Truist Financial Co. has a 12 month low of $34.26 and a 12 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.

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

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio is currently 62.46%.

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.