Kingswood Wealth Advisors LLC Trims Stake in Truist Financial Co. (NYSE:TFC)

Kingswood Wealth Advisors LLC lowered its holdings in Truist Financial Co. (NYSE:TFC) by 11.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 14,590 shares of the insurance provider’s stock after selling 1,954 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Truist Financial were worth $633,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of TFC. PFG Investments LLC increased its holdings in shares of Truist Financial by 3.6% in the 4th quarter. PFG Investments LLC now owns 14,421 shares of the insurance provider’s stock worth $626,000 after buying an additional 499 shares during the last quarter. Jamison Private Wealth Management Inc. grew its position in Truist Financial by 5.9% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 142,516 shares of the insurance provider’s stock worth $6,182,000 after acquiring an additional 7,964 shares in the last quarter. Patton Albertson Miller Group LLC increased its stake in Truist Financial by 8.6% in the fourth quarter. Patton Albertson Miller Group LLC now owns 30,104 shares of the insurance provider’s stock valued at $1,306,000 after acquiring an additional 2,385 shares during the last quarter. Toth Financial Advisory Corp lifted its stake in Truist Financial by 18.2% during the fourth quarter. Toth Financial Advisory Corp now owns 7,871 shares of the insurance provider’s stock worth $341,000 after purchasing an additional 1,213 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC boosted its holdings in shares of Truist Financial by 3.4% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 171,595 shares of the insurance provider’s stock worth $7,444,000 after purchasing an additional 5,682 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. The trade was 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 currently owned by company insiders.

Truist Financial Trading Up 0.4 %

NYSE TFC opened at $47.44 on Thursday. The firm has a market capitalization of $62.98 billion, a PE ratio of 14.25, a P/E/G ratio of 1.67 and a beta of 1.08. The stock’s 50 day moving average is $45.51 and its 200 day moving average is $44.00. Truist Financial Co. has a twelve month low of $34.23 and a twelve month high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the firm earned $0.81 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. Research analysts forecast that Truist Financial Co. will post 3.95 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.38%. Truist Financial’s dividend payout ratio is currently 62.46%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Keefe, Bruyette & Woods boosted their target price on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Raymond James boosted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Citigroup lifted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Royal Bank of Canada upped their price target on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, Barclays lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and an average target price of $50.79.

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.