Truist Financial Corporation $TFC Shares Sold by Centaurus Financial Inc.

Centaurus Financial Inc. trimmed its position in shares of Truist Financial Corporation (NYSE:TFC) by 56.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,448 shares of the insurance provider’s stock after selling 13,663 shares during the period. Centaurus Financial Inc.’s holdings in Truist Financial were worth $449,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TFC. Orion Porfolio Solutions LLC raised its holdings in shares of Truist Financial by 14.1% during the second quarter. Orion Porfolio Solutions LLC now owns 111,683 shares of the insurance provider’s stock valued at $4,801,000 after buying an additional 13,823 shares during the last quarter. Silverlake Wealth Management LLC acquired a new stake in Truist Financial in the 2nd quarter valued at approximately $229,000. B. Riley Wealth Advisors Inc. bought a new stake in Truist Financial during the 2nd quarter valued at $295,000. Newbridge Financial Services Group Inc. raised its stake in Truist Financial by 6.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 4,255 shares of the insurance provider’s stock valued at $183,000 after acquiring an additional 273 shares in the last quarter. Finally, Cape Investment Advisory Inc. boosted its position in Truist Financial by 9.8% during the 2nd quarter. Cape Investment Advisory Inc. now owns 5,811 shares of the insurance provider’s stock worth $250,000 after acquiring an additional 521 shares during the period. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC opened at $49.78 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The firm’s 50 day moving average is $45.30 and its 200-day moving average is $44.50. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $50.43. The stock has a market capitalization of $63.68 billion, a P/E ratio of 13.38, a P/E/G ratio of 1.08 and a beta of 0.90.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.20 billion. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm posted $0.97 earnings per share. Equities research analysts anticipate that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. Truist Financial’s payout ratio is 55.91%.

Insider Activity at Truist Financial

In other news, Director K. David Jr. Boyer sold 5,160 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $46.45, for a total transaction of $239,682.00. Following the completion of the sale, the director directly owned 10,153 shares of the company’s stock, valued at $471,606.85. This represents a 33.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TFC has been the topic of a number of research analyst reports. TD Cowen raised Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Tuesday, October 21st. Morgan Stanley raised their target price on shares of Truist Financial from $54.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, October 20th. Robert W. Baird restated a “neutral” rating and set a $52.00 price target on shares of Truist Financial in a research report on Thursday, December 11th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $47.00 price objective on shares of Truist Financial in a report on Thursday, August 21st. Finally, Weiss Ratings lowered shares of Truist Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $49.60.

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.