Silvercrest Asset Management Group LLC Sells 4,965 Shares of Truist Financial Co. (NYSE:TFC)

Silvercrest Asset Management Group LLC lessened its position in Truist Financial Co. (NYSE:TFC) by 12.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,856 shares of the insurance provider’s stock after selling 4,965 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Truist Financial were worth $1,359,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Valmark Advisers Inc. grew its position in Truist Financial by 2.2% in the 4th quarter. Valmark Advisers Inc. now owns 12,965 shares of the insurance provider’s stock worth $479,000 after purchasing an additional 277 shares during the last quarter. Texas Yale Capital Corp. grew its position in Truist Financial by 2.4% in the 1st quarter. Texas Yale Capital Corp. now owns 12,118 shares of the insurance provider’s stock worth $472,000 after purchasing an additional 280 shares during the last quarter. Whalen Wealth Management Inc. grew its position in Truist Financial by 4.8% in the 1st quarter. Whalen Wealth Management Inc. now owns 6,331 shares of the insurance provider’s stock worth $247,000 after purchasing an additional 288 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in Truist Financial by 19.3% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 1,790 shares of the insurance provider’s stock worth $70,000 after purchasing an additional 290 shares during the last quarter. Finally, St. Johns Investment Management Company LLC grew its position in Truist Financial by 0.9% in the 4th quarter. St. Johns Investment Management Company LLC now owns 32,255 shares of the insurance provider’s stock worth $1,191,000 after purchasing an additional 296 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TFC. Bank of America lifted their target price on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Barclays lifted their target price on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Baird R W lowered shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group lifted their target price on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, UBS Group lifted their target price on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.30.

Truist Financial Trading Up 1.1 %

Shares of NYSE TFC opened at $44.95 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The company has a market cap of $60.15 billion, a PE ratio of -34.05, a P/E/G ratio of 2.08 and a beta of 1.07. The company has a 50-day moving average of $39.02 and a two-hundred day moving average of $37.86. Truist Financial Co. has a 1-year low of $26.57 and a 1-year high of $45.07.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. Truist Financial’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.95 earnings per share. As a group, equities analysts expect that Truist Financial Co. will post 3.57 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date is Friday, August 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Insider Activity at Truist Financial

In other news, CEO William H. Rogers, Jr. acquired 57,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the acquisition, the chief executive officer now owns 569,271 shares in the company, valued at $25,025,153.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William H. Rogers, Jr. acquired 57,300 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was bought at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the transaction, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Truist Financial 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.