Ferguson Wellman Capital Management Inc. Acquires 294 Shares of Truist Financial Co. (NYSE:TFC)

Ferguson Wellman Capital Management Inc. lifted its holdings in Truist Financial Co. (NYSE:TFC) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,452 shares of the insurance provider’s stock after purchasing an additional 294 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Truist Financial were worth $237,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. State Street Corp increased its stake in shares of Truist Financial by 4.6% in the third quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after purchasing an additional 2,720,223 shares during the period. Geode Capital Management LLC grew its position in Truist Financial by 1.7% during the third quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock worth $1,169,350,000 after buying an additional 456,412 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Truist Financial by 3.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,431,037 shares of the insurance provider’s stock worth $403,365,000 after buying an additional 288,306 shares in the last quarter. FMR LLC grew its position in Truist Financial by 10.6% during the third quarter. FMR LLC now owns 5,003,106 shares of the insurance provider’s stock worth $213,983,000 after buying an additional 478,886 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in Truist Financial by 26.1% during the third quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock worth $166,892,000 after buying an additional 807,648 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TFC has been the topic of a number of recent research reports. The Goldman Sachs Group lifted their target price on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Citigroup lifted their target price on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Piper Sandler lifted their price objective on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Eleven investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

Insider Buying and Selling

In other Truist Financial news, CEO William H. Rogers, Jr. bought 34,180 shares of the company’s stock in a transaction on Monday, November 25th. The stock was bought at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, the chief executive officer now owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. The trade was a 5.20 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were 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 $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.

Truist Financial Stock Performance

NYSE:TFC opened at $47.15 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average of $45.53 and a 200-day moving average of $44.26. Truist Financial Co. has a 1 year low of $34.23 and a 1 year high of $49.06. The stock has a market capitalization of $62.60 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08.

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. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the previous year, the company posted $0.81 EPS. Truist Financial’s revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Truist Financial Co. will post 3.98 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

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.