Atria Wealth Solutions Inc. Has $1.49 Million Stake in Truist Financial Co. (NYSE:TFC)

Atria Wealth Solutions Inc. reduced its position in shares of Truist Financial Co. (NYSE:TFC) by 4.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,394 shares of the insurance provider’s stock after selling 1,730 shares during the period. Atria Wealth Solutions Inc.’s holdings in Truist Financial were worth $1,492,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TFC. Natixis Advisors L.P. lifted its position in Truist Financial by 30.9% during the 4th quarter. Natixis Advisors L.P. now owns 373,375 shares of the insurance provider’s stock worth $13,783,000 after buying an additional 88,035 shares in the last quarter. Parnassus Investments LLC acquired a new position in Truist Financial during the fourth quarter valued at approximately $95,049,000. Rafferty Asset Management LLC grew its stake in Truist Financial by 47.7% in the fourth quarter. Rafferty Asset Management LLC now owns 1,185,259 shares of the insurance provider’s stock valued at $43,760,000 after purchasing an additional 382,976 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of Truist Financial by 4.1% during the 4th quarter. Treasurer of the State of North Carolina now owns 624,320 shares of the insurance provider’s stock worth $23,050,000 after purchasing an additional 24,535 shares in the last quarter. Finally, Norden Group LLC bought a new position in shares of Truist Financial in the first quarter valued at $2,351,000. 71.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Argus upped their target price on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Stephens increased their price target on Truist Financial from $43.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. Morgan Stanley lifted their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Barclays increased their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, The Goldman Sachs Group upped their price target on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $45.30.

Truist Financial Stock Up 4.7 %

Shares of NYSE:TFC opened at $43.84 on Friday. The business’s 50-day moving average is $40.89 and its 200-day moving average is $38.50. Truist Financial Co. has a 1 year low of $26.57 and a 1 year high of $45.31. The company has a market capitalization of $58.66 billion, a price-to-earnings ratio of -33.21, a P/E/G ratio of 1.99 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The company’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.95 EPS. Equities research analysts predict that Truist Financial Co. will post 3.56 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.74%. The ex-dividend date is Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.

Insider Activity

In other news, CEO William H. Rogers, Jr. purchased 57,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were acquired at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the purchase, the chief executive officer now owns 569,271 shares in the company, valued at $25,025,153.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO William H. Rogers, Jr. purchased 57,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the acquisition, the chief executive officer now owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

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.