Apollon Wealth Management LLC Acquires 5,345 Shares of Truist Financial Co. (NYSE:TFC)

Apollon Wealth Management LLC boosted its stake in Truist Financial Co. (NYSE:TFC) by 10.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,502 shares of the insurance provider’s stock after acquiring an additional 5,345 shares during the period. Apollon Wealth Management LLC’s holdings in Truist Financial were worth $2,364,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Finally, UBS Group boosted their price target on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Eleven 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, the company has an average rating of “Moderate Buy” and a consensus price target of $50.79.

Insider Activity at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was purchased at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the transaction, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. The trade was a 5.20 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the transaction, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.

Truist Financial Trading Down 1.0 %

NYSE:TFC opened at $47.68 on Monday. The company has a market cap of $63.30 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 1.69 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 company has a 50 day simple moving average of $45.53 and a two-hundred day simple moving average of $44.26. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. Truist Financial’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 earnings per share. Research analysts forecast that Truist Financial Co. will post 3.98 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend is 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.