Fiduciary Group LLC Has $579,000 Holdings in Truist Financial Co. (NYSE:TFC)

Fiduciary Group LLC reduced its position in Truist Financial Co. (NYSE:TFC) by 6.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,679 shares of the insurance provider’s stock after selling 996 shares during the period. Fiduciary Group LLC’s holdings in Truist Financial were worth $579,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in TFC. Morton Brown Family Wealth LLC boosted its stake in Truist Financial by 236.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 649 shares during the period. OFI Invest Asset Management bought a new position in shares of Truist Financial during the 3rd quarter worth approximately $26,000. Criterion Capital Advisors LLC bought a new position in shares of Truist Financial during the 4th quarter worth approximately $38,000. Operose Advisors LLC bought a new position in shares of Truist Financial during the 3rd quarter worth approximately $31,000. Finally, Tyler Stone Wealth Management bought a new position in shares of Truist Financial during the 3rd quarter worth approximately $33,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $38.65 on Monday. Truist Financial Co. has a one year low of $25.56 and a one year high of $39.29. The firm has a market cap of $51.58 billion, a price-to-earnings ratio of -28.92, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The stock’s 50-day moving average is $36.90 and its 200-day moving average is $34.90.

Truist Financial (NYSE:TFC) last released its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. Truist Financial’s revenue was down 8.8% on a year-over-year basis. Equities analysts predict that Truist Financial Co. will post 3.27 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.38%. Truist Financial’s payout ratio is presently -157.58%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TFC shares. TheStreet downgraded Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Jefferies Financial Group lifted their price objective on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Royal Bank of Canada lifted their price objective on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Compass Point raised Truist Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $34.00 to $42.00 in a research note on Tuesday, April 23rd. Finally, HSBC boosted their target price on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and an average price target of $41.97.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the company’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 in the company, valued at $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is currently owned by corporate insiders.

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.