Truist Financial Co. (NYSE:TFC) Shares Sold by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC trimmed its holdings in Truist Financial Co. (NYSE:TFC) by 35.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,293 shares of the insurance provider’s stock after selling 3,403 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Truist Financial were worth $232,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Fairfield Bush & CO. acquired a new stake in shares of Truist Financial during the 1st quarter worth about $25,000. Morton Brown Family Wealth LLC boosted its stake in shares of Truist Financial by 236.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 649 shares during the last quarter. Quarry LP acquired a new stake in shares of Truist Financial during the 1st quarter worth about $32,000. OFI Invest Asset Management acquired a new stake in shares of Truist Financial during the 3rd quarter worth about $26,000. Finally, Operose Advisors LLC acquired a new stake in shares of Truist Financial during the 3rd quarter worth about $31,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other 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 shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the sale, the director now owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.17% of the company’s stock.

Truist Financial Trading Down 2.9 %

TFC opened at $35.63 on Wednesday. The firm has a market capitalization of $47.55 billion, a P/E ratio of -32.99, a P/E/G ratio of 2.26 and a beta of 1.08. The firm’s 50 day moving average is $36.62 and its 200-day moving average is $34.36. Truist Financial Co. has a 52-week low of $25.56 and a 52-week high of $39.29. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74.

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

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.84%. Truist Financial’s dividend payout ratio is currently -192.59%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TFC. TheStreet cut shares of Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Jefferies Financial Group increased their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Keefe, Bruyette & Woods increased their price objective on shares of Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Raymond James increased their price objective on shares of Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Finally, Barclays increased their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $41.47.

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.