Wealthcare Advisory Partners LLC Purchases 53,737 Shares of Truist Financial Co. (NYSE:TFC)

Wealthcare Advisory Partners LLC boosted its holdings in Truist Financial Co. (NYSE:TFC) by 33.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 215,115 shares of the insurance provider’s stock after purchasing an additional 53,737 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Truist Financial were worth $7,942,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TFC. North Reef Capital Management LP acquired a new stake in Truist Financial during the 3rd quarter worth approximately $66,804,000. Assenagon Asset Management S.A. grew its holdings in shares of Truist Financial by 342.2% during the third quarter. Assenagon Asset Management S.A. now owns 2,526,939 shares of the insurance provider’s stock valued at $72,296,000 after buying an additional 1,955,448 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Truist Financial by 45.1% in the third quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock valued at $105,102,000 after purchasing an additional 1,141,944 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Truist Financial by 3,359.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock worth $38,602,000 after acquiring an additional 1,015,338 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Truist Financial by 1,155.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,054,500 shares of the insurance provider’s stock worth $30,169,000 after purchasing an additional 970,500 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Performance

TFC traded down $0.21 during trading on Tuesday, hitting $39.21. The stock had a trading volume of 5,091,338 shares, compared to its average volume of 9,399,230. Truist Financial Co. has a twelve month low of $26.49 and a twelve month high of $40.35. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The company’s 50-day moving average price is $37.25 and its 200 day moving average price is $35.30. The firm has a market capitalization of $52.33 billion, a P/E ratio of -29.87, a PEG ratio of 2.03 and a beta of 1.07.

Truist Financial (NYSE:TFC) last announced its earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. Truist Financial’s quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 EPS. On average, equities research analysts forecast that Truist Financial Co. will post 3.3 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.30%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Insider Buying and Selling

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

Analysts Set New Price Targets

TFC has been the topic of a number of analyst reports. Compass Point upgraded Truist Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $34.00 to $42.00 in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. increased their target price on shares of Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Stephens reissued an “overweight” rating and issued a $43.00 price target on shares of Truist Financial in a report on Tuesday, April 23rd. Citigroup lifted their target price on shares of Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Piper Sandler raised their target price on shares of Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, January 19th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $41.88.

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.