Strategic Financial Concepts LLC Takes $661,000 Position in Truist Financial Co. (NYSE:TFC)

Strategic Financial Concepts LLC acquired a new position in shares of Truist Financial Co. (NYSE:TFC) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 15,231 shares of the insurance provider’s stock, valued at approximately $661,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Hedeker Wealth LLC grew its holdings in shares of Truist Financial by 0.7% during the fourth quarter. Hedeker Wealth LLC now owns 97,477 shares of the insurance provider’s stock worth $4,229,000 after buying an additional 636 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in Truist Financial by 4.8% in the 4th quarter. GHP Investment Advisors Inc. now owns 43,733 shares of the insurance provider’s stock worth $1,897,000 after acquiring an additional 1,999 shares during the period. Silver Oak Securities Incorporated raised its holdings in Truist Financial by 10.1% in the 4th quarter. Silver Oak Securities Incorporated now owns 14,504 shares of the insurance provider’s stock valued at $629,000 after acquiring an additional 1,334 shares during the last quarter. Legacy CG LLC purchased a new position in shares of Truist Financial during the 4th quarter worth $3,170,000. Finally, Bleakley Financial Group LLC grew its position in shares of Truist Financial by 2.7% in the fourth quarter. Bleakley Financial Group LLC now owns 37,734 shares of the insurance provider’s stock valued at $1,637,000 after purchasing an additional 988 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC stock opened at $47.36 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company’s fifty day moving average price is $45.53 and its two-hundred day moving average price is $44.28. The firm has a market capitalization of $62.87 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.69 and a beta of 1.08. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The company’s revenue was up 3.4% compared to the same quarter last year. On average, research analysts anticipate that Truist Financial Co. will post 3.98 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.39%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Insider Activity at Truist Financial

In other news, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The shares were purchased at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This represents a 5.20 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the transaction, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, January 7th. UBS Group upped their price target on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Stephens boosted their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Finally, Piper Sandler increased their target price on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and an average price target of $50.79.

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.