Truist Financial Co. (NYSE:TFC) Shares Bought by Savant Capital LLC

Savant Capital LLC grew its holdings in shares of Truist Financial Co. (NYSE:TFC) by 22.3% in the fourth quarter, HoldingsChannel reports. The fund owned 73,966 shares of the insurance provider’s stock after buying an additional 13,482 shares during the period. Savant Capital LLC’s holdings in Truist Financial were worth $3,209,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the business. Tradewinds LLC. boosted its position in Truist Financial by 0.5% during the 3rd quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock worth $1,904,000 after acquiring an additional 222 shares during the period. PBMares Wealth Management LLC boosted its position in Truist Financial by 0.8% during the 4th quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock worth $1,270,000 after acquiring an additional 224 shares during the period. Koshinski Asset Management Inc. lifted its holdings in shares of 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 buying an additional 225 shares during the period. Aaron Wealth Advisors LLC lifted its holdings in shares of Truist Financial by 3.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock valued at $335,000 after buying an additional 227 shares during the period. Finally, Ignite Planners LLC lifted its holdings in shares of Truist Financial by 1.4% in the fourth 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 and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TFC. Morgan Stanley upped their price objective on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price objective on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Stephens upped their price objective on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Raymond James upped their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Barclays upped their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.79.

Insiders Place Their Bets

In related news, CEO William H. Rogers, Jr. purchased 34,180 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was bought at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the purchase, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. The trade was a 5.20 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the sale, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC stock opened at $47.36 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a fifty-two week low of $34.23 and a fifty-two week high of $49.06. The stock’s 50-day moving average is $45.53 and its two-hundred day moving average is $44.28. The firm has a market cap of $62.87 billion, a P/E ratio of 14.22, a PEG ratio of 1.69 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping 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 company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same period in the prior year, the firm posted $0.81 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. Analysts predict that Truist Financial Co. will post 3.98 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s payout ratio is currently 62.46%.

Truist Financial Company 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.