Corient Private Wealth LLC Sells 60,743 Shares of Truist Financial Co. (NYSE:TFC)

Corient Private Wealth LLC lowered its position in Truist Financial Co. (NYSE:TFC) by 9.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 567,148 shares of the insurance provider’s stock after selling 60,743 shares during the period. Corient Private Wealth LLC’s holdings in Truist Financial were worth $24,601,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TFC. Centurion Wealth Management LLC grew its stake in Truist Financial by 3.9% in the fourth quarter. Centurion Wealth Management LLC now owns 13,990 shares of the insurance provider’s stock valued at $607,000 after acquiring an additional 528 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Truist Financial by 2.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 98,896 shares of the insurance provider’s stock valued at $4,290,000 after purchasing an additional 2,475 shares during the period. one8zero8 LLC bought a new stake in Truist Financial during the 4th quarter worth approximately $1,785,000. Natixis Advisors LLC raised its holdings in Truist Financial by 8.8% during the 4th quarter. Natixis Advisors LLC now owns 491,394 shares of the insurance provider’s stock worth $21,316,000 after buying an additional 39,818 shares during the period. Finally, Frank Rimerman Advisors LLC lifted its stake in Truist Financial by 3.9% in the fourth quarter. Frank Rimerman Advisors LLC now owns 29,448 shares of the insurance provider’s stock valued at $1,277,000 after buying an additional 1,094 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on TFC. Morgan Stanley increased their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Compass Point boosted their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Piper Sandler lifted their price objective 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. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.16.

Truist Financial Stock Down 0.5 %

Shares of NYSE TFC opened at $40.84 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a 1 year low of $35.06 and a 1 year high of $49.06. The company has a 50 day simple moving average of $45.26 and a 200 day simple moving average of $44.52. The firm has a market cap of $53.32 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the prior year, the business posted $0.81 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. On average, research analysts forecast that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date was Friday, February 14th. Truist Financial’s payout ratio 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.