ARS Wealth Advisors Group LLC Sells 147,868 Shares of Truist Financial Co. (NYSE:TFC)

ARS Wealth Advisors Group LLC lessened its holdings in Truist Financial Co. (NYSE:TFC) by 91.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,391 shares of the insurance provider’s stock after selling 147,868 shares during the quarter. ARS Wealth Advisors Group LLC’s holdings in Truist Financial were worth $531,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Bleakley Financial Group LLC raised its position in shares of Truist Financial by 6.1% in the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock valued at $1,104,000 after acquiring an additional 1,731 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Truist Financial by 53.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock worth $12,515,000 after buying an additional 117,524 shares during the period. International Assets Investment Management LLC raised its holdings in Truist Financial by 3,359.6% during the 4th quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock worth $38,602,000 after buying an additional 1,015,338 shares during the period. Loudon Investment Management LLC raised its holdings in Truist Financial by 18.5% during the 3rd quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock worth $3,759,000 after buying an additional 20,490 shares during the period. Finally, Pathstone Family Office LLC raised its holdings in Truist Financial by 84.8% during the 3rd quarter. Pathstone Family Office LLC now owns 97,317 shares of the insurance provider’s stock worth $2,786,000 after buying an additional 44,659 shares during the period. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC traded up $0.50 during midday trading on Friday, reaching $38.85. 8,081,419 shares of the stock were exchanged, compared to its average volume of 8,655,990. Truist Financial Co. has a twelve month low of $25.56 and a twelve 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 market cap of $51.85 billion, a P/E ratio of -29.43, a PEG ratio of 2.03 and a beta of 1.07. The stock’s 50 day simple moving average is $37.16 and its 200 day simple moving average is $35.14.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping 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 the consensus estimate of $5.70 billion. During the same quarter last year, the firm earned $1.09 earnings per share. The company’s revenue was down 8.8% on a year-over-year basis. On average, sell-side analysts expect that Truist Financial Co. will post 3.3 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction on 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 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.

Analyst Upgrades and Downgrades

Several brokerages have commented on TFC. Piper Sandler raised their target price on shares of Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, January 19th. Compass Point upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and raised their target price for the stock from $34.00 to $42.00 in a report on Tuesday, April 23rd. Wells Fargo & Company boosted their price target on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Keefe, Bruyette & Woods increased their price objective on Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, April 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.88.

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.