Arcus Capital Partners LLC Trims Stake in Truist Financial Co. (NYSE:TFC)

Arcus Capital Partners LLC lowered its holdings in Truist Financial Co. (NYSE:TFC) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,526 shares of the insurance provider’s stock after selling 1,196 shares during the quarter. Arcus Capital Partners LLC’s holdings in Truist Financial were worth $1,541,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp raised its holdings in shares of Truist Financial by 4.6% in the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after buying an additional 2,720,223 shares during the period. Geode Capital Management LLC raised its holdings in shares of Truist Financial by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock valued at $1,169,350,000 after buying an additional 456,412 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Truist Financial by 3.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,431,037 shares of the insurance provider’s stock valued at $403,365,000 after buying an additional 288,306 shares during the period. FMR LLC raised its holdings in shares of Truist Financial by 10.6% in the 3rd quarter. FMR LLC now owns 5,003,106 shares of the insurance provider’s stock valued at $213,983,000 after buying an additional 478,886 shares during the period. Finally, HighTower Advisors LLC raised its holdings in shares of Truist Financial by 26.1% in the 3rd quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock valued at $166,892,000 after buying an additional 807,648 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Citigroup boosted their price objective on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Keefe, Bruyette & Woods boosted their price objective on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. UBS Group boosted their target price on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Barclays boosted their target price on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Insider Activity

In related news, CEO William H. Rogers, Jr. acquired 34,180 shares of Truist Financial stock in a transaction on Monday, November 25th. The stock was purchased at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the purchase, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the sale, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Truist Financial Stock Up 0.2 %

Truist Financial stock opened at $46.46 on Friday. Truist Financial Co. has a fifty-two week low of $34.26 and a fifty-two week high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $61.67 billion, a P/E ratio of 13.95, a PEG ratio of 1.69 and a beta of 1.08. The stock has a 50-day simple moving average of $45.55 and a 200-day simple moving average of $44.32.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the previous year, the business earned $0.81 EPS. The business’s quarterly revenue was up 3.4% on a year-over-year basis. Equities research analysts expect that Truist Financial Co. will post 3.98 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s payout ratio is currently 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.