Proficio Capital Partners LLC Purchases Shares of 125,672 Truist Financial Co. (NYSE:TFC)

Proficio Capital Partners LLC purchased a new position in Truist Financial Co. (NYSE:TFC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 125,672 shares of the insurance provider’s stock, valued at approximately $5,452,000.

A number of other large investors have also modified their holdings of the business. Oppenheimer & Co. Inc. grew its position in Truist Financial by 1.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 135,290 shares of the insurance provider’s stock worth $5,869,000 after purchasing an additional 2,184 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co grew its holdings in shares of Truist Financial by 12.3% during the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 9,744 shares of the insurance provider’s stock valued at $423,000 after buying an additional 1,069 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of Truist Financial by 2.0% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 524,300 shares of the insurance provider’s stock valued at $22,744,000 after acquiring an additional 10,200 shares during the period. Nwam LLC raised its stake in Truist Financial by 3.2% in the 4th quarter. Nwam LLC now owns 8,395 shares of the insurance provider’s stock worth $364,000 after acquiring an additional 263 shares during the last quarter. Finally, Heritage Investors Management Corp lifted its position in Truist Financial by 7.3% during the 4th quarter. Heritage Investors Management Corp now owns 11,775 shares of the insurance provider’s stock worth $511,000 after acquiring an additional 800 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE TFC opened at $45.41 on Tuesday. 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 firm has a market cap of $59.28 billion, a PE ratio of 13.64, a PEG ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a one year low of $34.51 and a one year high of $49.06. The firm has a fifty day moving average of $45.81 and a 200 day moving average of $44.68.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping 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 firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, research analysts predict that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio is presently 62.46%.

Insider Buying and Selling

In related 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 directly owns 11,246 shares in the company, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Raymond James raised their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Wells Fargo & Company raised their price target on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Compass Point upped their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Citigroup raised their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Finally, 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. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and a consensus target price 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.