Avaii Wealth Management LLC Sells 1,189 Shares of Truist Financial Co. (NYSE:TFC)

Avaii Wealth Management LLC lowered its stake in shares of Truist Financial Co. (NYSE:TFC) by 14.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,910 shares of the insurance provider’s stock after selling 1,189 shares during the period. Avaii Wealth Management LLC’s holdings in Truist Financial were worth $255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Valmark Advisers Inc. grew its holdings in shares of Truist Financial by 2.2% in the fourth quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock valued at $479,000 after purchasing an additional 277 shares in the last quarter. Day & Ennis LLC grew its holdings in shares of Truist Financial by 4.3% in the fourth quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock valued at $278,000 after purchasing an additional 311 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of Truist Financial by 32.0% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,333 shares of the insurance provider’s stock valued at $49,000 after purchasing an additional 323 shares in the last quarter. Cape Investment Advisory Inc. grew its holdings in shares of Truist Financial by 7.4% in the third quarter. Cape Investment Advisory Inc. now owns 4,849 shares of the insurance provider’s stock valued at $139,000 after purchasing an additional 335 shares in the last quarter. Finally, Birmingham Capital Management Co. Inc. AL grew its holdings in shares of Truist Financial by 4.1% in the third quarter. Birmingham Capital Management Co. Inc. AL now owns 8,544 shares of the insurance provider’s stock valued at $244,000 after purchasing an additional 335 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the subject of several recent analyst reports. Stephens reaffirmed an “overweight” rating and set a $43.00 price objective on shares of Truist Financial in a research note on Tuesday, April 23rd. TheStreet lowered shares of Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Bank of America raised shares of 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. Raymond James lifted their price objective on shares of Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. Finally, Jefferies Financial Group lifted their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and a consensus target price of $41.97.

Truist Financial Stock Performance

TFC stock opened at $38.32 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The business has a 50-day moving average price of $36.94 and a 200 day moving average price of $34.97. The company has a market capitalization of $51.14 billion, a P/E ratio of -29.03, a PEG ratio of 2.01 and a beta of 1.08. Truist Financial Co. has a 1-year low of $25.56 and a 1-year high of $39.29.

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

Truist Financial Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.43%. Truist Financial’s payout ratio is currently -157.58%.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial 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 completion of the sale, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

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.