Truist Financial Co. (NYSE:TFC) Shares Sold by Paradigm Asset Management Co. LLC

Paradigm Asset Management Co. LLC lowered its holdings in Truist Financial Co. (NYSE:TFC) by 97.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,083 shares of the insurance provider’s stock after selling 35,800 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in Truist Financial were worth $47,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TFC. AMF Tjanstepension AB acquired a new position in shares of Truist Financial during the 3rd quarter worth $3,208,000. Allspring Global Investments Holdings LLC raised its stake in shares of Truist Financial by 8.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 77,332 shares of the insurance provider’s stock worth $3,307,000 after buying an additional 5,786 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Truist Financial by 6.3% during the 3rd quarter. Private Advisor Group LLC now owns 79,474 shares of the insurance provider’s stock worth $3,399,000 after buying an additional 4,718 shares during the last quarter. Greenleaf Trust raised its stake in shares of Truist Financial by 6.5% during the 3rd quarter. Greenleaf Trust now owns 13,099 shares of the insurance provider’s stock worth $560,000 after buying an additional 795 shares during the last quarter. Finally, Dakota Wealth Management raised its stake in shares of Truist Financial by 82.9% during the 3rd quarter. Dakota Wealth Management now owns 149,993 shares of the insurance provider’s stock worth $6,415,000 after buying an additional 67,967 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

Truist Financial stock opened at $45.67 on Friday. The stock has a market cap of $60.62 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. 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 stock has a 50 day moving average of $45.61 and a 200-day moving average of $44.49. Truist Financial Co. has a 52 week low of $34.26 and a 52 week high of $49.06.

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, topping 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 firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period last year, the business posted $0.81 earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors 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 4.55%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction on 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 directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 completion of the acquisition, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TFC. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Stephens upped their target price on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Wells Fargo & Company upped their target price on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Finally, Raymond James upped their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

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.