Truist Financial Co. (NYSE:TFC) Shares Sold by Nicholas Hoffman & Company LLC.

Nicholas Hoffman & Company LLC. trimmed its stake in shares of Truist Financial Co. (NYSE:TFC) by 4.1% in the 4th quarter, HoldingsChannel reports. The firm owned 53,414 shares of the insurance provider’s stock after selling 2,256 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Truist Financial were worth $2,317,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TFC. Strategic Advisors LLC boosted its stake in shares of Truist Financial by 9.6% during the fourth quarter. Strategic Advisors LLC now owns 17,100 shares of the insurance provider’s stock worth $742,000 after buying an additional 1,500 shares during the period. Pathway Financial Advisors LLC increased its position in Truist Financial by 2.2% during the 4th quarter. Pathway Financial Advisors LLC now owns 12,124 shares of the insurance provider’s stock worth $526,000 after purchasing an additional 260 shares during the period. Nkcfo LLC acquired a new position in shares of Truist Financial during the 4th quarter worth $2,542,000. Strategic Financial Concepts LLC purchased a new stake in shares of Truist Financial during the 4th quarter worth approximately $661,000. Finally, Principal Securities Inc. boosted its position in shares of Truist Financial by 6.2% in the 4th quarter. Principal Securities Inc. now owns 51,899 shares of the insurance provider’s stock worth $2,251,000 after buying an additional 3,041 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Trading Up 0.7 %

Shares of TFC stock opened at $46.80 on Monday. The stock has a 50-day simple moving average of $45.53 and a 200 day simple moving average of $44.35. The stock has a market capitalization of $62.13 billion, a P/E ratio of 14.06, a P/E/G ratio of 1.69 and a beta of 1.08. Truist Financial Co. has a fifty-two week low of $34.26 and a fifty-two week high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the firm posted $0.81 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, sell-side analysts expect that Truist Financial Co. will post 3.98 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.52 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.44%. Truist Financial’s dividend payout ratio is currently 62.46%.

Insider Activity

In other Truist Financial news, CEO William H. Rogers, Jr. bought 34,180 shares of the stock in a transaction on Monday, November 25th. The shares were bought at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the purchase, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. The trade was a 5.20 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the 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 directly owns 11,246 shares of the company’s stock, valued at $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

TFC has been the subject of several recent analyst reports. Morgan Stanley lifted their target price on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Piper Sandler lifted their price target on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, January 7th. Finally, Stephens upped their price target on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and an average price target of $50.79.

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.