RFP Financial Group LLC Sells 5,217 Shares of Truist Financial Co. (NYSE:TFC)

RFP Financial Group LLC decreased its holdings in shares of Truist Financial Co. (NYSE:TFC) by 21.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,119 shares of the insurance provider’s stock after selling 5,217 shares during the period. RFP Financial Group LLC’s holdings in Truist Financial were worth $829,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TFC. Bangor Savings Bank increased its holdings in Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares in the last quarter. Valley Wealth Managers Inc. bought a new position in shares of Truist Financial in the third quarter worth about $26,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Truist Financial in the third quarter valued at approximately $32,000. Fortitude Family Office LLC increased its stake in shares of Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after buying an additional 678 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in Truist Financial in the third quarter valued at about $45,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Royal Bank of Canada upped their target price on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, January 7th. Compass Point upped their price objective on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Morgan Stanley boosted their target price on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Finally, UBS Group boosted their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.79.

Insider Activity

In related news, CEO William H. Rogers, Jr. bought 34,180 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were purchased at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of 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 acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the sale, the director now owns 11,246 shares in the company, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Price Performance

NYSE:TFC opened at $47.68 on Friday. The company has a market cap of $63.30 billion, a P/E ratio of 14.32, a P/E/G ratio of 1.69 and a beta of 1.08. 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 firm’s fifty day moving average price is $45.53 and its two-hundred day moving average price is $44.26. Truist Financial Co. has a one year low of $34.23 and a one year high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. Truist Financial’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the firm earned $0.81 earnings per share. Equities analysts expect that Truist Financial Co. will post 3.98 earnings per share for the current 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 paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s payout ratio is presently 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.