Gladstone Institutional Advisory LLC Has $639,000 Stock Holdings in Truist Financial Co. (NYSE:TFC)

Gladstone Institutional Advisory LLC grew its position in Truist Financial Co. (NYSE:TFC) by 95.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,731 shares of the insurance provider’s stock after acquiring an additional 7,194 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Truist Financial were worth $639,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. AMF Tjanstepension AB acquired a new position in Truist Financial in the 3rd quarter worth $3,208,000. Exchange Traded Concepts LLC boosted its position 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 worth $86,000 after buying an additional 1,602 shares during the period. CX Institutional grew its holdings in shares of Truist Financial by 8.5% during the third quarter. CX Institutional now owns 8,734 shares of the insurance provider’s stock worth $374,000 after buying an additional 684 shares in the last quarter. Vontobel Holding Ltd. raised its position in Truist Financial by 1.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 22,317 shares of the insurance provider’s stock valued at $954,000 after buying an additional 426 shares during the last quarter. Finally, Good Life Advisors LLC lifted its stake in Truist Financial by 20.2% in the 3rd quarter. Good Life Advisors LLC now owns 12,759 shares of the insurance provider’s stock valued at $546,000 after acquiring an additional 2,143 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE TFC opened at $46.80 on Friday. The firm has a market cap of $62.13 billion, a P/E ratio of 14.06, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. The business’s 50 day moving average is $45.54 and its 200-day moving average is $44.33. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 1-year low of $34.26 and a 1-year high of $49.06.

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

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date is Friday, February 14th. Truist Financial’s dividend payout ratio is currently 62.46%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TFC. Stephens raised their price target on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Citigroup raised their price target on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Royal Bank of Canada boosted their price target on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Finally, Piper Sandler boosted their target price on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $50.79.

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.