Truist Financial Co. (NYSE:TFC) Stock Holdings Increased by Highland Capital Management LLC

Highland Capital Management LLC boosted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 216,960 shares of the insurance provider’s stock after acquiring an additional 693 shares during the quarter. Highland Capital Management LLC’s holdings in Truist Financial were worth $8,010,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. EPG Wealth Management LLC raised its position in Truist Financial by 1.8% during the fourth quarter. EPG Wealth Management LLC now owns 12,219 shares of the insurance provider’s stock valued at $526,000 after acquiring an additional 213 shares in the last quarter. Williams Jones Wealth Management LLC. raised its position in Truist Financial by 5.8% during the first quarter. Williams Jones Wealth Management LLC. now owns 4,850 shares of the insurance provider’s stock valued at $275,000 after acquiring an additional 268 shares in the last quarter. Financial Advocates Investment Management raised its position in Truist Financial by 3.5% during the fourth quarter. Financial Advocates Investment Management now owns 9,071 shares of the insurance provider’s stock valued at $390,000 after acquiring an additional 306 shares in the last quarter. Cape Investment Advisory Inc. raised its position in Truist Financial by 7.4% during the third quarter. Cape Investment Advisory Inc. now owns 4,849 shares of the insurance provider’s stock valued at $139,000 after acquiring an additional 335 shares in the last quarter. Finally, Birmingham Capital Management Co. Inc. AL raised its position in Truist Financial by 4.1% during the third quarter. Birmingham Capital Management Co. Inc. AL now owns 8,544 shares of the insurance provider’s stock valued at $244,000 after acquiring an additional 335 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction 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 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 can be accessed through this link. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Trading Up 2.6 %

Shares of Truist Financial stock opened at $38.59 on Thursday. The company’s fifty day simple moving average is $36.36 and its 200-day simple moving average is $33.39. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $38.61.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.13. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter last year, the company posted $1.30 earnings per share. As a group, sell-side analysts expect that Truist Financial Co. will post 3.39 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 5.39%. Truist Financial’s dividend payout ratio is currently -192.59%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TFC shares. Morgan Stanley raised their price objective on shares of Truist Financial from $38.00 to $43.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 30th. TheStreet lowered shares of Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Bank of America raised shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Thursday, January 4th. Odeon Capital Group raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 price target on the stock in a research report on Thursday, December 14th. Finally, Piper Sandler lifted their price target on shares of Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $39.47.

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.