Ingalls & Snyder LLC Has $1.04 Million Position in Truist Financial Co. (NYSE:TFC)

Ingalls & Snyder LLC lessened its stake in shares of Truist Financial Co. (NYSE:TFC) by 72.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,058 shares of the insurance provider’s stock after selling 63,466 shares during the quarter. Ingalls & Snyder LLC’s holdings in Truist Financial were worth $1,044,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. AMF Tjanstepension AB bought a new stake in Truist Financial during the 3rd quarter valued at $3,208,000. Exchange Traded Concepts LLC increased its position in shares of Truist Financial by 395.6% during the third quarter. Exchange Traded Concepts LLC now owns 2,007 shares of the insurance provider’s stock worth $86,000 after acquiring an additional 1,602 shares in the last quarter. CX Institutional raised its holdings in shares of Truist Financial by 8.5% in the 3rd quarter. CX Institutional now owns 8,734 shares of the insurance provider’s stock worth $374,000 after acquiring an additional 684 shares during the last quarter. Vontobel Holding Ltd. lifted its position in Truist Financial by 1.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 22,317 shares of the insurance provider’s stock valued at $954,000 after acquiring an additional 426 shares in the last quarter. Finally, B.O.S.S. Retirement Advisors LLC boosted its stake in Truist Financial by 3.6% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 40,135 shares of the insurance provider’s stock valued at $1,717,000 after purchasing an additional 1,380 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TFC has been the topic of a number of recent research reports. Morgan Stanley raised their target price on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Compass Point increased their target price on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Royal Bank of Canada upped their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, Raymond James increased their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $50.79.

Insider Buying and Selling at Truist Financial

In related news, CEO William H. Rogers, Jr. purchased 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The stock was acquired 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 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 Truist Financial stock in a transaction 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 sale, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. This 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.

Truist Financial Trading Up 0.2 %

Shares of TFC stock opened at $46.46 on Friday. The stock has a market capitalization of $61.67 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.69 and a beta of 1.08. Truist Financial Co. has a 1 year low of $34.26 and a 1 year high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company’s fifty day simple moving average is $45.55 and its two-hundred day simple moving average is $44.32.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data 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 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 analysts’ expectations of $5.05 billion. During the same quarter in the previous year, the company earned $0.81 earnings per share. Truist Financial’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, analysts anticipate that Truist Financial Co. will post 3.98 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid 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 yield of 4.48%. Truist Financial’s dividend payout ratio is currently 62.46%.

Truist Financial Company 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.