Truist Financial Co. (NYSE:TFC) Shares Sold by McKinley Carter Wealth Services Inc.

McKinley Carter Wealth Services Inc. trimmed its position in Truist Financial Co. (NYSE:TFC) by 5.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 19,352 shares of the insurance provider’s stock after selling 1,058 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Truist Financial were worth $840,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. NewEdge Advisors LLC lifted its holdings in shares of Truist Financial by 0.3% in the 2nd quarter. NewEdge Advisors LLC now owns 148,053 shares of the insurance provider’s stock worth $5,752,000 after acquiring an additional 444 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Truist Financial by 17.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 236,352 shares of the insurance provider’s stock worth $9,182,000 after acquiring an additional 34,681 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Truist Financial by 42.6% in the 2nd quarter. EP Wealth Advisors LLC now owns 8,914 shares of the insurance provider’s stock worth $346,000 after acquiring an additional 2,664 shares during the last quarter. 3Chopt Investment Partners LLC acquired a new position in shares of Truist Financial in the 2nd quarter worth approximately $331,000. Finally, New Wave Wealth Advisors LLC acquired a new position in shares of Truist Financial in the 2nd quarter worth approximately $254,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

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 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 owns 11,246 shares in the company, valued at $519,565.20. This represents a 30.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were 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 owns 691,451 shares in the company, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TFC has been the topic of several recent research reports. Barclays upped their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Citigroup upped their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Raymond James upped their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company upped their target price on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Truist Financial Trading Up 0.4 %

NYSE TFC opened at $47.44 on Thursday. 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 firm’s fifty day moving average price is $45.51 and its 200 day moving average price is $44.00. The company has a market capitalization of $62.98 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm posted $0.81 EPS. On average, sell-side analysts expect that Truist Financial Co. will post 3.95 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is 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.