Wealthcare Advisory Partners LLC sells 474 shares of Truist Financial Co. (NYSE: TFC)
Wealthcare Advisory Partners LLC reduced its stake in Truist Financial Co. (NYSE: TFC – Get a rating) by 1.8% in the first quarter, according to the company in its latest filing with the Securities and Exchange Commission. The institutional investor held 26,022 shares of the insurer after selling 474 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Truist Financial were worth $1,475,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of TFC. Hanson & Doremus Investment Management increased its stake in Truist Financial by 456.4% during the fourth quarter. Hanson & Doremus Investment Management now owns 434 shares of the insurance provider worth $25,000 after acquiring 356 additional shares last quarter. Elmwood Wealth Management Inc. bought a new stake in shares of Truist Financial in the 4th quarter for a value of approximately $25,000. Reilly Financial Advisors LLC acquired a new stake in shares of Truist Financial during Q4 for a value of approximately $28,000. Delos Wealth Advisors LLC increased its position in shares of Truist Financial by 108.9% during the 4th quarter. Delos Wealth Advisors LLC now owns 518 shares of the insurance provider worth $30,000 after buying an additional 270 shares in the last quarter. Finally, Amplius Wealth Advisors LLC bought a new position in Truist Financial during Q4 worth approximately $31,000. Institutional investors and hedge funds own 72.79% of the company’s shares.
In related news, the director Steven C. Voorhees acquired 20,000 shares of the company in a transaction that took place on Wednesday, May 4. The shares were acquired at an average price of $49.82 per share, for a total transaction of $996,400.00. Following the completion of the acquisition, the director now owns 60,873 shares of the company, valued at approximately $3,032,692.86. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. 0.31% of the shares are held by insiders.
Action of True Financial opened at $49.22 on Monday. The company has a market capitalization of $65.53 billion, a PE ratio of 10.99, a PEG ratio of 1.81 and a beta of 1.17. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt ratio of 0.58. Truist Financial Co. has a 1-year minimum of $44.75 and a 1-year maximum of $68.95. The company’s 50-day moving average is $48.45 and its two-hundred-day moving average is $56.06.
Truist Financial (NYSE: TFC – Get a rating) last released its quarterly results on Tuesday, April 19. The insurance provider reported earnings per share of $1.23 for the quarter, beating analysts’ consensus estimate of $1.12 by $0.11. Truist Financial had a net margin of 27.89% and a return on equity of 12.70%. The company posted revenue of $5.33 billion in the quarter, versus a consensus estimate of $5.48 billion. In the same period a year earlier, the company posted earnings per share of $1.18. Truist Financial’s revenue for the quarter decreased 2.9% compared to the same quarter last year. Research analysts expect Truist Financial Co. to post EPS of 4.96 for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 1. Shareholders of record on Friday, May 13 received a dividend of $0.48. The ex-dividend date was Thursday, May 12. This represents an annualized dividend of $1.92 and a dividend yield of 3.90%. Truist Financial’s dividend payout ratio is currently 42.86%.
Several analysts have recently weighed in on TFC shares. Stephens lowered his price target on shares of Truist Financial from $74.00 to $64.00 and set an “overweight” rating for the company in a Tuesday, June 7 report. Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and reduced its price target for the company from $75.00 to $58.00 in a Monday, April 11 research report. StockNews.com upgraded Truist Financial from a “buy” to a “hold” rating in a Wednesday, May 25, report. Bank of America downgraded Truist Financial from a “buy” to a “neutral” rating and set a price target of $58.00 for the company. in a report on Friday, April 8. Finally, Piper Sandler cut her price target on shares of Truist Financial from $69.00 to $62.00 in a Wednesday, April 20 research report. One analyst has assigned the stock a sell rating, nine have assigned a hold rating and three have assigned the stock a buy rating. According to data from MarketBeat.com, Truist Financial has an average rating of “Hold” and a consensus target price of $62.46.
Truist Financial Profile (Get a rating)
Truist Financial Corporation, a holding company, provides banking and trust services in the Southeast and Mid-Atlantic United States. The Company operates through three segments: Consumer Banking and Wealth Management, Corporate and Commercial Banking and Insurance Holdings. Its deposit products include interest-free checks, interest-bearing checks, savings and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.
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