Advisory Services Network LLC Sells 28,470 Shares of Truist Financial Co. (NYSE:TFC)

Advisory Services Network LLC lowered its holdings in shares of Truist Financial Co. (NYSE:TFC) by 15.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,427 shares of the insurance provider’s stock after selling 28,470 shares during the quarter. Advisory Services Network LLC’s holdings in Truist Financial were worth $6,569,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. PBMares Wealth Management LLC raised its holdings in Truist Financial by 0.8% in the 4th quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock valued at $1,270,000 after acquiring an additional 224 shares in the last quarter. Koshinski Asset Management Inc. raised its stake in Truist Financial by 2.1% in the fourth quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock valued at $470,000 after purchasing an additional 225 shares in the last quarter. Aaron Wealth Advisors LLC lifted its position 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 purchasing an additional 227 shares during the period. FWG Holdings LLC grew its stake in Truist Financial by 4.3% during the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock worth $267,000 after buying an additional 234 shares in the last quarter. Finally, Ignite Planners LLC increased its holdings in Truist Financial by 1.4% in the 4th quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock valued at $772,000 after buying an additional 246 shares during the period. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Compass Point increased their price target on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Wells Fargo & Company decreased their price target on Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $48.00 to $52.00 in a research report on Wednesday, March 5th. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, April 3rd. Finally, Raymond James downgraded shares of Truist Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and two have assigned 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 $50.22.

Truist Financial Stock Performance

NYSE:TFC opened at $34.87 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The company has a 50 day simple moving average of $43.22 and a two-hundred day simple moving average of $44.16. The company has a market capitalization of $45.51 billion, a PE ratio of 10.47, a P/E/G ratio of 1.63 and a beta of 0.91.

Truist Financial (NYSE:TFC) last issued 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 net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the prior year, the firm posted $0.81 earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. Research analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.97%. The ex-dividend date was Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

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.