Rothschild Investment LLC Trims Holdings in Truist Financial Co. (NYSE:TFC)

Rothschild Investment LLC reduced its holdings in shares of Truist Financial Co. (NYSE:TFC) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 250,565 shares of the insurance provider’s stock after selling 1,233 shares during the quarter. Rothschild Investment LLC’s holdings in Truist Financial were worth $10,870,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. IFP Advisors Inc boosted its stake in shares of Truist Financial by 17.3% during the 4th quarter. IFP Advisors Inc now owns 8,220 shares of the insurance provider’s stock valued at $357,000 after buying an additional 1,211 shares during the last quarter. World Equity Group Inc. purchased a new position in shares of Truist Financial during the 4th quarter valued at approximately $219,000. Atlantic Family Wealth LLC purchased a new position in shares of Truist Financial during the 4th quarter valued at approximately $222,000. Howard Capital Management Inc. lifted its stake in Truist Financial by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 8,815 shares of the insurance provider’s stock worth $382,000 after purchasing an additional 454 shares during the last quarter. Finally, Wealthspire Advisors LLC lifted its stake in Truist Financial by 28.8% during the fourth quarter. Wealthspire Advisors LLC now owns 33,603 shares of the insurance provider’s stock worth $1,458,000 after purchasing an additional 7,507 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Price Performance

Shares of TFC opened at $45.67 on Monday. The firm has a market capitalization of $60.62 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a one year low of $34.26 and a one year high of $49.06. The stock’s fifty day moving average is $45.61 and its 200-day moving average is $44.52.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. Truist Financial’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.81 earnings per share. Equities analysts anticipate that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s payout ratio is currently 62.46%.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the transaction, the director now owns 11,246 shares in the company, valued at $519,565.20. This trade represents a 30.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TFC has been the topic of several research analyst reports. Piper Sandler raised their price objective on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Raymond James raised their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Morgan Stanley raised their price objective on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Wells Fargo & Company raised their price objective on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, January 7th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and an average target price 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.