Truist Financial Corporation $TFC Shares Sold by Sound View Wealth Advisors Group LLC

Sound View Wealth Advisors Group LLC lowered its stake in shares of Truist Financial Corporation (NYSE:TFC) by 47.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,755 shares of the insurance provider’s stock after selling 13,366 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Truist Financial were worth $726,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Truist Financial by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 812,388 shares of the insurance provider’s stock worth $41,578,000 after buying an additional 9,573 shares in the last quarter. Old Port Advisors lifted its stake in shares of Truist Financial by 8.4% during the fourth quarter. Old Port Advisors now owns 31,154 shares of the insurance provider’s stock valued at $1,533,000 after buying an additional 2,406 shares during the period. Wedmont Private Capital boosted its position in Truist Financial by 4.8% during the fourth quarter. Wedmont Private Capital now owns 15,277 shares of the insurance provider’s stock worth $773,000 after acquiring an additional 699 shares during the last quarter. Lincoln Capital LLC acquired a new position in Truist Financial in the 4th quarter valued at $256,000. Finally, Nordea Investment Management AB raised its holdings in Truist Financial by 3.0% in the 4th quarter. Nordea Investment Management AB now owns 129,858 shares of the insurance provider’s stock valued at $6,411,000 after acquiring an additional 3,841 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $44.12 on Monday. The business’s fifty day moving average price is $49.94 and its 200 day moving average price is $47.62. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $56.19. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $54.75 billion, a P/E ratio of 11.58, a PEG ratio of 0.75 and a beta of 0.87.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.09). The firm had revenue of $4.93 billion for the quarter, compared to analyst estimates of $5.32 billion. Truist Financial had a return on equity of 9.03% and a net margin of 17.09%.The business’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 earnings per share. As a group, research analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial declared that its board has approved a stock repurchase plan on Tuesday, December 16th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 15.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Friday, February 13th. Truist Financial’s dividend payout ratio is 54.59%.

Insider Activity at Truist Financial

In other Truist Financial news, CFO Michael Baron Maguire sold 13,000 shares of Truist Financial stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $50.13, for a total transaction of $651,690.00. Following the transaction, the chief financial officer directly owned 74,323 shares of the company’s stock, valued at $3,725,811.99. The trade was a 14.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Cynthia B. Powell sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $52.49, for a total transaction of $183,715.00. Following the sale, the chief accounting officer owned 667 shares of the company’s stock, valued at approximately $35,010.83. This represents a 83.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised their price objective on Truist Financial from $49.00 to $53.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. Citigroup increased their target price on Truist Financial from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, December 31st. Evercore restated an “outperform” rating on shares of Truist Financial in a report on Thursday, February 5th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $58.00 price objective on shares of Truist Financial in a research note on Tuesday, January 6th. Finally, Morgan Stanley upgraded shares of Truist Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $56.00 to $69.00 in a report on Tuesday, February 17th. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and a consensus target price of $56.47.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.