Atria Wealth Solutions Inc. Sells 1,822 Shares of Truist Financial Co. (NYSE:TFC)

Atria Wealth Solutions Inc. trimmed its holdings in Truist Financial Co. (NYSE:TFC) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,865 shares of the insurance provider’s stock after selling 1,822 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Truist Financial were worth $1,509,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of TFC. OFI Invest Asset Management bought a new stake in shares of Truist Financial in the third quarter valued at approximately $26,000. Operose Advisors LLC bought a new stake in shares of Truist Financial in the third quarter valued at approximately $31,000. Tyler Stone Wealth Management bought a new stake in shares of Truist Financial in the third quarter valued at approximately $33,000. Morton Brown Family Wealth LLC raised its stake in shares of Truist Financial by 236.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 649 shares in the last quarter. Finally, Authentikos Wealth Advisory LLC acquired a new position in shares of Truist Financial in the third quarter valued at $36,000. 71.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TFC shares. UBS Group upped their target price on Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Wells Fargo & Company upped their target price on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Citigroup upped their target price on Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Royal Bank of Canada upped their target price on Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Finally, Bank of America upgraded Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and an average price target of $41.97.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

Truist Financial Stock Down 2.0 %

Shares of NYSE:TFC opened at $37.55 on Wednesday. Truist Financial Co. has a twelve month low of $25.56 and a twelve month high of $39.29. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The business has a fifty day moving average of $36.98 and a 200-day moving average of $35.03.

Truist Financial (NYSE:TFC) last announced its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period last year, the company posted $1.09 earnings per share. Analysts forecast that Truist Financial Co. will post 3.27 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.54%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s dividend payout ratio is -157.58%.

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.