Truist Financial Co. (NYSE:TFC) Shares Sold by Good Life Advisors LLC

Good Life Advisors LLC reduced its stake in Truist Financial Co. (NYSE:TFC) by 13.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,063 shares of the insurance provider’s stock after selling 1,566 shares during the period. Good Life Advisors LLC’s holdings in Truist Financial were worth $372,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fairfield Bush & CO. acquired a new position in shares of Truist Financial during the first quarter worth approximately $25,000. United Bank boosted its position in shares of Truist Financial by 4.1% during the first quarter. United Bank now owns 74,457 shares of the insurance provider’s stock worth $4,222,000 after buying an additional 2,938 shares during the period. Panagora Asset Management Inc. boosted its position in shares of Truist Financial by 33.3% during the first quarter. Panagora Asset Management Inc. now owns 26,365 shares of the insurance provider’s stock worth $1,495,000 after buying an additional 6,593 shares during the period. Vontobel Holding Ltd. boosted its position in shares of Truist Financial by 3.3% during the first quarter. Vontobel Holding Ltd. now owns 22,951 shares of the insurance provider’s stock worth $1,348,000 after buying an additional 738 shares during the period. Finally, Blair William & Co. IL boosted its position in shares of Truist Financial by 8.1% during the first quarter. Blair William & Co. IL now owns 56,690 shares of the insurance provider’s stock worth $3,214,000 after buying an additional 4,234 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $38.97 on Friday. The company’s fifty day moving average is $36.41 and its two-hundred day moving average is $33.42. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $39.29.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.13. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the business earned $1.30 EPS. Equities research analysts predict that Truist Financial Co. will post 3.39 EPS for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.34%. The ex-dividend date was Thursday, February 8th. Truist Financial’s dividend payout ratio (DPR) is currently -192.59%.

Insider Activity

In other news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TFC. Barclays boosted their target price on Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Morgan Stanley boosted their target price on Truist Financial from $38.00 to $43.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Keefe, Bruyette & Woods boosted their target price on Truist Financial from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Royal Bank of Canada boosted their target price on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Finally, Stephens raised Truist Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $41.00 to $43.00 in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $40.30.

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.