Truist Financial Co. (NYSE:TFC) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. lessened its holdings in shares of Truist Financial Co. (NYSE:TFC) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,519 shares of the insurance provider’s stock after selling 533 shares during the period. First Horizon Advisors Inc.’s holdings in Truist Financial were worth $758,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Mechanics Financial Corp increased its holdings in shares of Truist Financial by 7.4% in the 4th quarter. Mechanics Financial Corp now owns 4,345 shares of the insurance provider’s stock valued at $160,000 after purchasing an additional 300 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in Truist Financial by 81.6% in the fourth quarter. First Trust Direct Indexing L.P. now owns 29,958 shares of the insurance provider’s stock valued at $1,106,000 after buying an additional 13,462 shares in the last quarter. New York Life Investment Management LLC lifted its position in shares of Truist Financial by 0.7% during the 4th quarter. New York Life Investment Management LLC now owns 208,437 shares of the insurance provider’s stock valued at $7,695,000 after acquiring an additional 1,452 shares during the period. Searle & CO. purchased a new stake in shares of Truist Financial during the 4th quarter worth approximately $319,000. Finally, Essex Financial Services Inc. grew its holdings in shares of Truist Financial by 9.0% in the 4th quarter. Essex Financial Services Inc. now owns 15,517 shares of the insurance provider’s stock worth $573,000 after acquiring an additional 1,285 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

NYSE TFC opened at $38.85 on Friday. Truist Financial Co. has a 12 month low of $25.56 and a 12 month high of $39.29. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. The company has a 50-day moving average of $37.16 and a 200-day moving average of $35.14.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. Truist Financial’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.09 earnings per share. On average, analysts anticipate that Truist Financial Co. will post 3.3 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date is Thursday, May 9th. Truist Financial’s payout ratio is currently -157.58%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Jefferies Financial Group boosted their target price on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Citigroup increased their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Morgan Stanley restated an “equal weight” rating and set a $43.00 target price on shares of Truist Financial in a research report on Monday, April 22nd. TheStreet lowered shares of Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Finally, HSBC lifted their price objective on Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $41.88.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the sale, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is owned by company insiders.

Truist Financial 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.