Venturi Wealth Management LLC Increases Stock Position in Truist Financial Co. (NYSE:TFC)

Venturi Wealth Management LLC raised its holdings in Truist Financial Co. (NYSE:TFC) by 64.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,799 shares of the insurance provider’s stock after purchasing an additional 6,570 shares during the quarter. Venturi Wealth Management LLC’s holdings in Truist Financial were worth $729,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in TFC. Tradewinds LLC. lifted its position in shares of Truist Financial by 0.5% during the 3rd quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock valued at $1,904,000 after acquiring an additional 222 shares during the period. PBMares Wealth Management LLC lifted its position in shares of Truist Financial by 0.8% during the 4th quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock valued at $1,270,000 after acquiring an additional 224 shares during the period. Koshinski Asset Management Inc. lifted its position in shares of Truist Financial by 2.1% during the 4th quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock valued at $470,000 after acquiring an additional 225 shares during the period. Aaron Wealth Advisors LLC lifted its position in shares of Truist Financial by 3.0% during the 4th quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock valued at $335,000 after acquiring an additional 227 shares during the period. Finally, Ignite Planners LLC lifted its position in shares of Truist Financial by 1.4% during the 4th quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock valued at $772,000 after acquiring an additional 246 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Down 0.1 %

Shares of NYSE TFC opened at $47.59 on Thursday. Truist Financial Co. has a 52-week low of $34.26 and a 52-week high of $49.06. The firm has a fifty day moving average of $45.59 and a 200-day moving average of $44.43. The stock has a market capitalization of $63.17 billion, a PE ratio of 14.29, a P/E/G ratio of 1.64 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the previous year, the company earned $0.81 EPS. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, analysts anticipate that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.37%. Truist Financial’s dividend payout ratio is presently 62.46%.

Insider Activity

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 34,180 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was 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 owns 691,451 shares in the company, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through 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 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 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.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TFC. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Wells Fargo & Company lifted their price target on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group lifted their price objective on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Compass Point lifted their price objective on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Eleven equities research 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. According to data from MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and an average price target of $50.79.

About Truist Financial

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.