IHT Wealth Management LLC Purchases 6,080 Shares of Truist Financial Co. (NYSE:TFC)

IHT Wealth Management LLC lifted its stake in shares of Truist Financial Co. (NYSE:TFC) by 64.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,448 shares of the insurance provider’s stock after acquiring an additional 6,080 shares during the period. IHT Wealth Management LLC’s holdings in Truist Financial were worth $656,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in TFC. Czech National Bank increased its position in shares of Truist Financial by 8.7% during the second quarter. Czech National Bank now owns 254,986 shares of the insurance provider’s stock worth $9,906,000 after acquiring an additional 20,313 shares in the last quarter. Aspire Private Capital LLC increased its position in shares of Truist Financial by 12.0% during the second quarter. Aspire Private Capital LLC now owns 15,232 shares of the insurance provider’s stock worth $592,000 after acquiring an additional 1,629 shares in the last quarter. Ballast Inc. increased its position in shares of Truist Financial by 2.1% during the second quarter. Ballast Inc. now owns 41,641 shares of the insurance provider’s stock worth $1,618,000 after acquiring an additional 840 shares in the last quarter. Financial Partners Group LLC increased its position in shares of Truist Financial by 2.6% during the second quarter. Financial Partners Group LLC now owns 38,553 shares of the insurance provider’s stock worth $1,498,000 after acquiring an additional 960 shares in the last quarter. Finally, Signature Wealth Management Group increased its position in shares of Truist Financial by 1.1% during the second quarter. Signature Wealth Management Group now owns 87,940 shares of the insurance provider’s stock worth $3,416,000 after acquiring an additional 992 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Insiders Place Their Bets

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 34,180 shares of the company’s stock in a transaction on Monday, November 25th. The stock was acquired 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 directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. This trade represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Stock Performance

NYSE TFC opened at $47.26 on Friday. The firm has a 50-day moving average of $44.70 and a 200-day moving average of $42.07. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $62.74 billion, a PE ratio of -33.05, a P/E/G ratio of 1.90 and a beta of 1.06. Truist Financial Co. has a 52-week low of $33.36 and a 52-week high of $49.06.

Truist Financial (NYSE:TFC) last posted its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. On average, sell-side analysts anticipate that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is -145.45%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Stephens reaffirmed an “overweight” rating and issued a $50.00 target price on shares of Truist Financial in a research report on Tuesday, September 10th. Compass Point raised their target price on shares of Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Piper Sandler raised their target price on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company raised their target price on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Royal Bank of Canada raised their target price on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $47.67.

About Truist Financial

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.