Avior Wealth Management LLC Decreases Position in Truist Financial Co. (NYSE:TFC)

Avior Wealth Management LLC cut its holdings in Truist Financial Co. (NYSE:TFC) by 30.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,767 shares of the insurance provider’s stock after selling 1,686 shares during the period. Avior Wealth Management LLC’s holdings in Truist Financial were worth $139,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TFC. Moneta Group Investment Advisors LLC lifted its stake in shares of Truist Financial by 12,034.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock valued at $881,700,000 after acquiring an additional 20,321,500 shares during the last quarter. Norges Bank purchased a new position in Truist Financial in the 4th quarter worth approximately $553,718,000. Morgan Stanley lifted its position in Truist Financial by 32.6% in the fourth quarter. Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock valued at $667,443,000 after purchasing an additional 3,813,439 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Truist Financial by 65.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 7,592,182 shares of the insurance provider’s stock valued at $258,893,000 after purchasing an additional 2,992,820 shares during the period. Finally, Imprint Wealth LLC grew its holdings in shares of Truist Financial by 3,152.2% in the second quarter. Imprint Wealth LLC now owns 2,726,575 shares of the insurance provider’s stock worth $272,658,000 after purchasing an additional 2,642,737 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TFC. Bank of America raised shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Thursday, January 4th. Stephens raised Truist Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $41.00 to $43.00 in a research note on Tuesday, March 19th. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. Morgan Stanley lifted their price objective on Truist Financial from $38.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Finally, HSBC upped their target price on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $41.47.

Truist Financial Trading Up 3.1 %

NYSE:TFC opened at $36.80 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. Truist Financial Co. has a one year low of $25.56 and a one year high of $39.29. The company’s 50-day simple moving average is $36.64 and its 200 day simple moving average is $34.49.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the firm posted $1.30 EPS. As a group, equities analysts anticipate that Truist Financial Co. will post 3.33 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.65%. Truist Financial’s dividend payout ratio is currently -192.59%.

Insider Activity

In related news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the transaction, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.

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.