Truist Financial Co. (NYSE:TFC) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. reduced its stake in shares of Truist Financial Co. (NYSE:TFC) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,944 shares of the insurance provider’s stock after selling 2,238 shares during the period. Hartford Investment Management Co.’s holdings in Truist Financial were worth $3,555,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TFC. Thurston Springer Miller Herd & Titak Inc. lifted its position in Truist Financial by 48.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock worth $129,000 after acquiring an additional 971 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Truist Financial by 3.5% during the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after purchasing an additional 50,637 shares during the period. Cadence Bank boosted its position in Truist Financial by 101.6% in the third quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock valued at $7,920,000 after buying an additional 93,322 shares during the last quarter. Country Club Bank increased its holdings in Truist Financial by 719.8% in the 4th quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock worth $1,973,000 after buying an additional 39,949 shares during the period. Finally, Independent Advisor Alliance raised its position in Truist Financial by 10.7% during the 3rd quarter. Independent Advisor Alliance now owns 282,607 shares of the insurance provider’s stock worth $12,087,000 after buying an additional 27,408 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on TFC shares. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. 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 report on Tuesday, January 7th. Wells Fargo & Company boosted their price objective on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Royal Bank of Canada raised their target price on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, Keefe, Bruyette & Woods boosted their price target on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Eleven investment 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 company. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Insider Activity at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the transaction, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the company’s stock in a transaction dated 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 purchase, 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 disclosure for this purchase can be found here. 0.17% of the stock is owned by corporate insiders.

Truist Financial Price Performance

NYSE:TFC opened at $46.42 on Thursday. The firm has a market cap of $61.62 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. The stock has a 50 day moving average of $45.55 and a two-hundred day moving average of $44.30. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

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 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 during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the company earned $0.81 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. On average, analysts expect that Truist Financial Co. will post 3.98 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.48%. 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.