Kentucky Trust Co Acquires New Holdings in Truist Financial Co. (NYSE:TFC)

Kentucky Trust Co acquired a new stake in shares of Truist Financial Co. (NYSE:TFC) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 40,145 shares of the insurance provider’s stock, valued at approximately $1,741,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TFC. AMF Tjanstepension AB bought a new stake in shares of Truist Financial during the third quarter valued at about $3,208,000. CWM LLC raised its stake in shares of Truist Financial by 25.9% during the third quarter. CWM LLC now owns 47,534 shares of the insurance provider’s stock valued at $2,033,000 after purchasing an additional 9,769 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Truist Financial by 395.6% during the third quarter. Exchange Traded Concepts LLC now owns 2,007 shares of the insurance provider’s stock valued at $86,000 after purchasing an additional 1,602 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Truist Financial by 83.9% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,992 shares of the insurance provider’s stock worth $85,000 after acquiring an additional 909 shares during the period. Finally, Grove Bank & Trust grew its holdings in Truist Financial by 170.8% during the third quarter. Grove Bank & Trust now owns 5,443 shares of the insurance provider’s stock worth $233,000 after acquiring an additional 3,433 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Stephens lifted their target price on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. JPMorgan Chase & Co. lifted their target price on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Finally, Royal Bank of Canada lifted their target price on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Price Performance

Shares of TFC opened at $47.36 on Wednesday. The company has a market capitalization of $62.87 billion, a price-to-earnings ratio of 14.22, a P/E/G ratio of 1.69 and a beta of 1.08. Truist Financial Co. has a fifty-two week low of $34.23 and a fifty-two week high of $49.06. 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 business’s 50-day moving average is $45.53 and its 200-day moving average is $44.28.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 EPS. Equities research analysts expect that Truist Financial Co. will post 3.98 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company 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 is Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.39%. Truist Financial’s payout ratio is 62.46%.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of the business’s 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 sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the purchase, the chief executive officer now owns 691,451 shares in the company, 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 currently owned by company insiders.

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.