My Legacy Advisors LLC Has $606,000 Stake in Truist Financial Co. (NYSE:TFC)

My Legacy Advisors LLC raised its holdings in Truist Financial Co. (NYSE:TFC) by 16.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,361 shares of the insurance provider’s stock after acquiring an additional 1,862 shares during the quarter. My Legacy Advisors LLC’s holdings in Truist Financial were worth $606,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Tradewinds LLC. boosted its position in shares of Truist Financial by 0.5% in the 3rd quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock worth $1,904,000 after purchasing an additional 222 shares during the last quarter. Aaron Wealth Advisors LLC boosted its holdings in Truist Financial by 3.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock worth $335,000 after buying an additional 227 shares during the last quarter. Ignite Planners LLC grew its position in shares of Truist Financial by 1.4% during the 4th quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock worth $772,000 after buying an additional 246 shares during the period. Burkett Financial Services LLC increased its stake in shares of Truist Financial by 26.8% in the 3rd quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock valued at $51,000 after acquiring an additional 253 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC raised its position in shares of Truist Financial by 2.7% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 10,399 shares of the insurance provider’s stock valued at $445,000 after acquiring an additional 270 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the transaction, the director now owns 11,246 shares in the company, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the company’s stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the purchase, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Compass Point upped their target price on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Barclays raised their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Piper Sandler boosted their target price on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Stephens reaffirmed an “overweight” rating and set a $54.00 price target on shares of Truist Financial in a research report on Thursday, January 2nd. Finally, The Goldman Sachs Group boosted their price objective on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $49.95.

Truist Financial Trading Up 5.9 %

NYSE:TFC opened at $47.63 on Friday. The stock’s 50-day simple moving average is $45.40 and its 200 day simple moving average is $43.54. Truist Financial Co. has a 52-week low of $34.23 and a 52-week high of $49.06. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5,047,370 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 EPS. On average, analysts forecast that Truist Financial Co. will post 3.61 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date was Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

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.