Truist Financial Co. (NYSE:TFC) Shares Sold by KG&L Capital Management LLC

KG&L Capital Management LLC trimmed its position in Truist Financial Co. (NYSE:TFC) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 22,629 shares of the insurance provider’s stock after selling 300 shares during the quarter. KG&L Capital Management LLC’s holdings in Truist Financial were worth $982,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC grew its holdings in Truist Financial by 42.6% during the second quarter. EP Wealth Advisors LLC now owns 8,914 shares of the insurance provider’s stock worth $346,000 after acquiring an additional 2,664 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Truist Financial in the 2nd quarter worth approximately $8,606,000. AMF Tjanstepension AB bought a new stake in shares of Truist Financial in the 3rd quarter worth approximately $3,208,000. Czech National Bank raised its holdings in shares of Truist Financial by 7.0% in the 3rd quarter. Czech National Bank now owns 272,797 shares of the insurance provider’s stock worth $11,668,000 after purchasing an additional 17,811 shares in the last quarter. Finally, Delta Financial Group Inc. acquired a new stake in Truist Financial during the third quarter valued at approximately $212,000. 71.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

TFC has been the topic of several recent research reports. UBS Group upped their price target on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods boosted their target price on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Morgan Stanley upped their target price on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Stephens boosted their price objective on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, Piper Sandler increased their target price on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

Insider Buying and Selling

In other news, CEO William H. Rogers, Jr. bought 34,180 shares of Truist Financial 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 completion of the transaction, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial 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 owns 11,246 shares in the company, valued at $519,565.20. This represents 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 insiders.

Truist Financial Stock Performance

TFC opened at $47.64 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $63.24 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 1.68 and a beta of 1.08. The stock has a 50-day moving average of $45.55 and a 200-day moving average of $44.09. Truist Financial Co. has a 52-week low of $34.23 and a 52-week high of $49.06.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the prior year, the business earned $0.81 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts forecast that Truist Financial Co. will post 3.95 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

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 $0.52 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.37%. 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.