Octavia Wealth Advisors LLC Acquires 6,415 Shares of Truist Financial Co. (NYSE:TFC)

Octavia Wealth Advisors LLC boosted its holdings in Truist Financial Co. (NYSE:TFC) by 77.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,691 shares of the insurance provider’s stock after purchasing an additional 6,415 shares during the period. Octavia Wealth Advisors LLC’s holdings in Truist Financial were worth $542,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Fairfield Bush & CO. acquired a new stake in Truist Financial in the first quarter valued at $25,000. United Bank lifted its stake in Truist Financial by 4.1% in the first quarter. United Bank now owns 74,457 shares of the insurance provider’s stock valued at $4,222,000 after acquiring an additional 2,938 shares during the last quarter. Panagora Asset Management Inc. lifted its stake in Truist Financial by 33.3% in the first quarter. Panagora Asset Management Inc. now owns 26,365 shares of the insurance provider’s stock valued at $1,495,000 after acquiring an additional 6,593 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in Truist Financial by 3.3% in the first quarter. Vontobel Holding Ltd. now owns 22,951 shares of the insurance provider’s stock valued at $1,348,000 after acquiring an additional 738 shares during the last quarter. Finally, Blair William & Co. IL lifted its stake in Truist Financial by 8.1% in the first quarter. Blair William & Co. IL now owns 56,690 shares of the insurance provider’s stock valued at $3,214,000 after acquiring an additional 4,234 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Down 2.9 %

NYSE:TFC opened at $35.63 on Wednesday. The firm’s 50 day simple moving average is $36.62 and its 200 day simple moving average is $34.36. 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 has a market cap of $47.55 billion, a PE ratio of -32.99, a P/E/G ratio of 2.26 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.68 by $0.13. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same period last year, the company earned $1.30 EPS. On average, research analysts anticipate that Truist Financial Co. will post 3.33 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a $0.52 dividend. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.84%. Truist Financial’s dividend payout ratio (DPR) is currently -192.59%.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. HSBC raised their target price on shares of Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Wells Fargo & Company raised their target price on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. UBS Group raised their target price on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, Raymond James raised their price target on shares of Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and an average price target of $41.47.

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.