5,050 Shares in Truist Financial Co. (NYSE:TFC) Purchased by World Equity Group Inc.

World Equity Group Inc. acquired a new position in shares of Truist Financial Co. (NYSE:TFC) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 5,050 shares of the insurance provider’s stock, valued at approximately $219,000.

A number of other institutional investors also recently made changes to their positions in the company. Atlantic Family Wealth LLC bought a new stake in shares of Truist Financial during the fourth quarter worth approximately $222,000. Howard Capital Management Inc. boosted its holdings in shares of Truist Financial by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 8,815 shares of the insurance provider’s stock worth $382,000 after acquiring an additional 454 shares during the period. Wealthspire Advisors LLC boosted its holdings in shares of Truist Financial by 28.8% during the fourth quarter. Wealthspire Advisors LLC now owns 33,603 shares of the insurance provider’s stock worth $1,458,000 after acquiring an additional 7,507 shares during the period. TCW Group Inc. boosted its holdings in shares of Truist Financial by 2.6% during the fourth quarter. TCW Group Inc. now owns 18,707 shares of the insurance provider’s stock worth $812,000 after acquiring an additional 469 shares during the period. Finally, Pinnacle Financial Partners Inc boosted its holdings in shares of Truist Financial by 26.2% during the fourth quarter. Pinnacle Financial Partners Inc now owns 86,646 shares of the insurance provider’s stock worth $3,758,000 after acquiring an additional 17,997 shares during the period. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TFC. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Compass Point boosted their price target on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Morgan Stanley boosted their price target on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Keefe, Bruyette & Woods boosted their price target on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.79.

Insider Activity

In other news, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the transaction, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. This represents a 30.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Truist Financial Stock Down 0.8 %

NYSE TFC opened at $45.31 on Tuesday. The business has a fifty day moving average price of $45.61 and a two-hundred day moving average price of $44.54. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a fifty-two week low of $34.26 and a fifty-two week high of $49.06. The stock has a market capitalization of $60.15 billion, a PE ratio of 13.61, a PEG ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the prior year, the company earned $0.81 EPS. Truist Financial’s revenue was up 3.4% compared to the same quarter last year. Equities analysts expect that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

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.