BCS Wealth Management Has $1.25 Million Position in Truist Financial Co. (NYSE:TFC)

BCS Wealth Management trimmed its stake in Truist Financial Co. (NYSE:TFC) by 4.8% in the fourth quarter, HoldingsChannel reports. The firm owned 28,776 shares of the insurance provider’s stock after selling 1,452 shares during the period. BCS Wealth Management’s holdings in Truist Financial were worth $1,248,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in shares of Truist Financial during the second quarter worth approximately $1,111,000. Dai ichi Life Insurance Company Ltd lifted its stake in shares of Truist Financial by 27.0% in the second quarter. Dai ichi Life Insurance Company Ltd now owns 71,538 shares of the insurance provider’s stock valued at $2,779,000 after buying an additional 15,230 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Truist Financial by 5.0% during the second quarter. Parallel Advisors LLC now owns 9,843 shares of the insurance provider’s stock valued at $382,000 after buying an additional 473 shares during the last quarter. Plato Investment Management Ltd increased its position in shares of Truist Financial by 48.2% during the second quarter. Plato Investment Management Ltd now owns 6,537 shares of the insurance provider’s stock worth $254,000 after acquiring an additional 2,125 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Truist Financial by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after acquiring an additional 299,196 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Insider Activity at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 34,180 shares of Truist Financial stock in a transaction on Monday, November 25th. The shares were acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the transaction, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction that occurred on 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 approximately $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TFC has been the subject of a number of recent research reports. Compass Point boosted their price objective on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Stephens reissued an “overweight” rating and issued a $54.00 price target on shares of Truist Financial in a research report on Thursday, January 2nd. Barclays lifted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. JPMorgan Chase & Co. increased their target price on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.89.

Truist Financial Stock Performance

NYSE TFC opened at $43.13 on Tuesday. The firm has a market cap of $57.26 billion, a P/E ratio of -30.16, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $45.38 and its 200-day moving average is $43.42. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data 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 business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. Sell-side analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.82%. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

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.