HF Advisory Group LLC Has $1.52 Million Holdings in Truist Financial Co. (NYSE:TFC)

HF Advisory Group LLC raised its position in shares of Truist Financial Co. (NYSE:TFC) by 50.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,117 shares of the insurance provider’s stock after buying an additional 11,789 shares during the period. HF Advisory Group LLC’s holdings in Truist Financial were worth $1,523,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Mercer Global Advisors Inc. ADV boosted its stake in Truist Financial by 10.2% in the second quarter. Mercer Global Advisors Inc. ADV now owns 194,219 shares of the insurance provider’s stock worth $7,545,000 after purchasing an additional 17,968 shares in the last quarter. Seven Eight Capital LP bought a new position in shares of Truist Financial in the second quarter worth about $434,000. Intech Investment Management LLC lifted its position in shares of Truist Financial by 63.3% during the second quarter. Intech Investment Management LLC now owns 14,415 shares of the insurance provider’s stock worth $560,000 after purchasing an additional 5,585 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Truist Financial by 16.5% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 107,592 shares of the insurance provider’s stock valued at $4,180,000 after purchasing an additional 15,262 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its position in Truist Financial by 31.7% in the 2nd quarter. Benjamin Edwards Inc. now owns 1,826 shares of the insurance provider’s stock worth $71,000 after purchasing an additional 439 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Trading Up 5.9 %

Truist Financial stock opened at $47.63 on Friday. Truist Financial Co. has a twelve month low of $34.23 and a twelve month high of $49.06. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average of $45.40 and a 200-day moving average of $43.54.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. Equities analysts predict that Truist Financial Co. will post 3.61 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.37%. Truist Financial’s dividend payout ratio is currently -145.45%.

Insider Activity

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the transaction, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. The trade was a 30.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following 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 position. The disclosure for this purchase can be found here. 0.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on TFC shares. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday. UBS Group upped their target price on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Raymond James lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, January 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and an average target price of $49.95.

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.