Truist Financial Co. (NYSE:TFC) Shares Sold by Dakota Wealth Management

Dakota Wealth Management trimmed its holdings in Truist Financial Co. (NYSE:TFC) by 4.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 113,523 shares of the insurance provider’s stock after selling 5,282 shares during the period. Dakota Wealth Management’s holdings in Truist Financial were worth $4,191,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Moneta Group Investment Advisors LLC raised its position in shares of Truist Financial by 12,034.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock valued at $881,700,000 after acquiring an additional 20,321,500 shares in the last quarter. Norges Bank acquired a new stake in Truist Financial in the fourth quarter worth $553,718,000. Morgan Stanley increased its position in Truist Financial by 32.6% in the fourth quarter. Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock worth $667,443,000 after buying an additional 3,813,439 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Truist Financial by 65.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 7,592,182 shares of the insurance provider’s stock worth $258,893,000 after buying an additional 2,992,820 shares during the period. Finally, Imprint Wealth LLC increased its position in Truist Financial by 3,152.2% in the second quarter. Imprint Wealth LLC now owns 2,726,575 shares of the insurance provider’s stock worth $272,658,000 after buying an additional 2,642,737 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TFC shares. Piper Sandler increased their target price on Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. Keefe, Bruyette & Woods increased their price target on Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Stephens raised Truist Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $41.00 to $43.00 in a research note on Tuesday, March 19th. Barclays increased their price target on Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Royal Bank of Canada raised their target price on Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.47.

Truist Financial Stock Down 0.2 %

TFC opened at $36.71 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $48.99 billion, a PE ratio of -33.99, a price-to-earnings-growth ratio of 2.27 and a beta of 1.08. The business has a 50-day moving average of $36.64 and a 200-day moving average of $34.31. Truist Financial Co. has a fifty-two week low of $25.56 and a fifty-two week high of $39.29.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same quarter in the prior year, the firm posted $1.30 EPS. Equities research analysts forecast that Truist Financial Co. will post 3.33 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.67%. The ex-dividend date was Thursday, February 8th. Truist Financial’s dividend payout ratio (DPR) is currently -192.59%.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company’s stock.

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.