Newman Dignan & Sheerar Inc. Sells 1,544 Shares of Truist Financial Co. (NYSE:TFC)

Newman Dignan & Sheerar Inc. decreased its stake in shares of Truist Financial Co. (NYSE:TFC) by 13.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,957 shares of the insurance provider’s stock after selling 1,544 shares during the quarter. Newman Dignan & Sheerar Inc.’s holdings in Truist Financial were worth $432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TFC. AMF Tjanstepension AB bought a new position in Truist Financial during the third quarter valued at $3,208,000. Exchange Traded Concepts LLC lifted its position in 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 during the last quarter. Vontobel Holding Ltd. lifted its position in Truist Financial by 1.9% during the third quarter. Vontobel Holding Ltd. now owns 22,317 shares of the insurance provider’s stock valued at $954,000 after purchasing an additional 426 shares during the last quarter. Good Life Advisors LLC lifted its position in Truist Financial by 20.2% during the third quarter. Good Life Advisors LLC now owns 12,759 shares of the insurance provider’s stock valued at $546,000 after purchasing an additional 2,143 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its position in Truist Financial by 3.0% during the third quarter. Global Retirement Partners LLC now owns 55,599 shares of the insurance provider’s stock valued at $2,378,000 after purchasing an additional 1,638 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling at Truist Financial

In other news, CEO William H. Rogers, Jr. purchased 34,180 shares of the stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the acquisition, the chief executive officer now owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now owns 11,246 shares in the company, valued at $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Raymond James increased their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Citigroup increased 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. Morgan Stanley increased their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, January 7th. Finally, Piper Sandler raised 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 investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Trading Up 0.7 %

NYSE TFC opened at $46.80 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $62.13 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. The company’s 50-day simple moving average is $45.53 and its two-hundred day simple moving average is $44.35. Truist Financial Co. has a one year low of $34.26 and a one year high of $49.06.

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

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a dividend of $0.52 per share. 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 (DPR) is 62.46%.

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.