Bleakley Financial Group LLC Grows Position in Truist Financial Co. (NYSE:TFC)

Bleakley Financial Group LLC raised its position in Truist Financial Co. (NYSE:TFC) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,734 shares of the insurance provider’s stock after acquiring an additional 988 shares during the quarter. Bleakley Financial Group LLC’s holdings in Truist Financial were worth $1,637,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. YANKCOM Partnership acquired a new stake in Truist Financial in the fourth quarter valued at $613,000. Centennial Wealth Advisory LLC increased its holdings in shares of Truist Financial by 9.5% in the 4th quarter. Centennial Wealth Advisory LLC now owns 11,955 shares of the insurance provider’s stock valued at $519,000 after acquiring an additional 1,040 shares during the last quarter. Country Club Bank raised its position in shares of Truist Financial by 719.8% during the 4th quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock worth $1,973,000 after acquiring an additional 39,949 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Truist Financial by 31.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 135,803 shares of the insurance provider’s stock worth $5,922,000 after purchasing an additional 32,854 shares during the last quarter. Finally, Y.D. More Investments Ltd boosted its holdings in Truist Financial by 99.2% in the fourth quarter. Y.D. More Investments Ltd now owns 1,645 shares of the insurance provider’s stock valued at $71,000 after purchasing an additional 819 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 34,180 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction dated Wednesday, December 4th. The shares were 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 in the company, 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. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

TFC has been the subject of several recent analyst reports. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Barclays upped their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. 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 report on Friday, November 15th. The Goldman Sachs Group boosted their target price on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, UBS Group raised their price target on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Trading Down 1.0 %

NYSE TFC opened at $47.68 on Friday. Truist Financial Co. has a 52-week low of $34.23 and a 52-week high of $49.06. The firm has a 50-day moving average price of $45.53 and a 200 day moving average price of $44.23. The stock has a market capitalization of $63.30 billion, a P/E ratio of 14.32, a P/E/G ratio of 1.69 and a beta of 1.08. 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 results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period last year, the firm earned $0.81 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities research analysts expect that Truist Financial Co. will post 3.95 EPS for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.36%. Truist Financial’s dividend payout ratio is presently 62.46%.

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.