Truist Financial Co. (NYSE:TFC) Shares Acquired by Arkadios Wealth Advisors

Arkadios Wealth Advisors raised its holdings in shares of Truist Financial Co. (NYSE:TFCGet Rating) by 44.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,641 shares of the insurance provider’s stock after acquiring an additional 9,070 shares during the quarter. Arkadios Wealth Advisors’ holdings in Truist Financial were worth $1,406,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in TFC. Schroder Investment Management Group boosted its position in shares of Truist Financial by 21.5% during the 4th quarter. Schroder Investment Management Group now owns 753,131 shares of the insurance provider’s stock worth $44,096,000 after acquiring an additional 133,329 shares in the last quarter. Gotham Asset Management LLC boosted its position in shares of Truist Financial by 109.3% in the 4th quarter. Gotham Asset Management LLC now owns 18,539 shares of the insurance provider’s stock valued at $1,085,000 after purchasing an additional 9,683 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of Truist Financial by 6.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 235,476 shares of the insurance provider’s stock valued at $13,786,000 after purchasing an additional 14,504 shares during the period. Mutual Advisors LLC boosted its position in shares of Truist Financial by 2.3% in the 4th quarter. Mutual Advisors LLC now owns 21,444 shares of the insurance provider’s stock valued at $1,256,000 after purchasing an additional 480 shares during the period. Finally, Nissay Asset Management Corp Japan ADV boosted its position in shares of Truist Financial by 2.6% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 143,265 shares of the insurance provider’s stock valued at $8,388,000 after purchasing an additional 3,579 shares during the period. 73.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Truist Financial

In related news, CEO William H. Rogers, Jr. sold 142,606 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $47.78, for a total value of $6,813,714.68. Following the completion of the transaction, the chief executive officer now directly owns 862,590 shares of the company’s stock, valued at approximately $41,214,550.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TFC. StockNews.com raised Truist Financial from a “hold” rating to a “buy” rating in a research report on Thursday. Piper Sandler decreased their target price on Truist Financial to $52.00 in a research report on Friday, July 22nd. Barclays decreased their target price on Truist Financial to $61.00 in a research report on Friday, July 22nd. The Goldman Sachs Group decreased their target price on Truist Financial from $68.00 to $57.00 and set a “buy” rating for the company in a research report on Tuesday, May 31st. Finally, Citigroup decreased their target price on Truist Financial from $58.00 to $52.00 and set a “neutral” rating for the company in a research report on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Truist Financial presently has an average rating of “Hold” and an average target price of $57.63.

Truist Financial Stock Performance

Shares of TFC stock opened at $44.80 on Friday. The company has a market cap of $59.42 billion, a price-to-earnings ratio of 10.16, a price-to-earnings-growth ratio of 1.99 and a beta of 1.12. The stock has a 50 day simple moving average of $48.74 and a 200-day simple moving average of $50.20. Truist Financial Co. has a 12-month low of $44.68 and a 12-month high of $68.95. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.54.

Truist Financial (NYSE:TFCGet Rating) last issued its earnings results on Tuesday, July 19th. The insurance provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.65 billion. Truist Financial had a return on equity of 12.14% and a net margin of 27.25%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $1.55 EPS. On average, equities analysts forecast that Truist Financial Co. will post 5 EPS for the current year.

Truist Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.64%. This is an increase from Truist Financial’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, August 11th. Truist Financial’s dividend payout ratio is 47.17%.

Truist Financial Profile

(Get Rating)

Truist Financial Corporation, a holding 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.

Further Reading

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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