Truist Financial Co. (NYSE:TFC) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 32.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 47,920 shares of the insurance provider’s stock after selling 22,610 shares during the period. Everence Capital Management Inc.’s holdings in Truist Financial were worth $2,079,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp lifted its holdings in shares of Truist Financial by 255.7% during the second quarter. Van ECK Associates Corp now owns 84,016 shares of the insurance provider’s stock valued at $3,264,000 after purchasing an additional 60,395 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Truist Financial by 22.8% in the 2nd quarter. Larson Financial Group LLC now owns 2,454 shares of the insurance provider’s stock valued at $95,000 after acquiring an additional 456 shares in the last quarter. TD Asset Management Inc boosted its stake in Truist Financial by 15.6% in the 2nd quarter. TD Asset Management Inc now owns 686,042 shares of the insurance provider’s stock worth $26,653,000 after purchasing an additional 92,476 shares during the period. Foster & Motley Inc. purchased a new position in Truist Financial during the 2nd quarter worth approximately $343,000. Finally, National Bank of Canada FI raised its stake in Truist Financial by 9.8% during the 2nd quarter. National Bank of Canada FI now owns 2,014,891 shares of the insurance provider’s stock valued at $79,086,000 after purchasing an additional 179,155 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Truist Financial

In other news, 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 transaction of $229,429.20. Following the sale, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of $48.56 per share, with a total value 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 disclosure for this purchase can be found here. 0.17% of the stock is owned by corporate insiders.

Truist Financial Stock Performance

TFC opened at $44.10 on Friday. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06. The firm has a market capitalization of $58.54 billion, a P/E ratio of -30.84, a price-to-earnings-growth ratio of 1.88 and a beta of 1.06. The stock’s 50 day moving average price is $45.27 and its two-hundred day moving average price is $43.00. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. The business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. On average, equities analysts forecast that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s dividend payout ratio is currently -145.45%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods lifted their price target on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. UBS Group lifted their target price on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. increased their price target on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Citigroup boosted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Finally, Piper Sandler increased their target price on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Truist Financial currently has an average rating of “Hold” and a consensus price target of $48.74.

Truist Financial Company 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.