Legacy Capital Wealth Partners LLC Sells 21,981 Shares of Truist Financial Co. (NYSE:TFC)

Legacy Capital Wealth Partners LLC decreased its position in shares of Truist Financial Co. (NYSE:TFC) by 52.4% in the 4th quarter, Holdings Channel reports. The firm owned 20,003 shares of the insurance provider’s stock after selling 21,981 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Truist Financial were worth $868,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Truist Financial by 48.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock worth $129,000 after purchasing an additional 971 shares during the period. Principal Financial Group Inc. raised its stake in shares of Truist Financial by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after purchasing an additional 50,637 shares during the period. Cadence Bank raised its stake in shares of Truist Financial by 101.6% during the 3rd quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock worth $7,920,000 after purchasing an additional 93,322 shares during the period. Country Club Bank raised its stake 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 purchasing an additional 39,949 shares during the period. Finally, David Wealth Management LLC bought a new stake in shares of Truist Financial during the 4th quarter worth $2,354,000. Institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TFC. Barclays boosted their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Stephens boosted their price objective on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Wells Fargo & Company boosted their price objective on Truist Financial from $48.00 to $52.00 and gave the company 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 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Insider Transactions at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 34,180 shares of Truist Financial stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s 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 owns 11,246 shares of the company’s stock, 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. 0.17% of the stock is owned by insiders.

Truist Financial Stock Up 0.7 %

Shares of NYSE TFC opened at $46.80 on Friday. Truist Financial Co. has a 12 month low of $34.26 and a 12 month high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $62.13 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.69 and a beta of 1.08. The business has a 50-day moving average of $45.53 and a 200-day moving average of $44.35.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping 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 company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the previous year, the firm earned $0.81 earnings per share. Truist Financial’s revenue was up 3.4% on a year-over-year basis. Sell-side analysts expect that Truist Financial Co. will post 3.98 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

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

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.