Graves Light Lenhart Wealth Inc. Has $2.27 Million Stock Position in Truist Financial Co. (NYSE:TFC)

Graves Light Lenhart Wealth Inc. lowered its holdings in shares of Truist Financial Co. (NYSE:TFC) by 0.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 52,220 shares of the insurance provider’s stock after selling 252 shares during the period. Graves Light Lenhart Wealth Inc.’s holdings in Truist Financial were worth $2,265,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. State Street Corp grew its holdings in Truist Financial by 4.6% during the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after acquiring an additional 2,720,223 shares during the period. Assenagon Asset Management S.A. grew its stake in Truist Financial by 316.4% during the third quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock worth $90,585,000 after purchasing an additional 1,609,351 shares during the period. HighTower Advisors LLC increased its holdings in Truist Financial by 26.1% in the third quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock worth $166,892,000 after purchasing an additional 807,648 shares in the last quarter. LPL Financial LLC increased its holdings in Truist Financial by 21.0% in the third quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock worth $155,288,000 after purchasing an additional 630,628 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Truist Financial during the 3rd quarter worth approximately $26,087,000. Institutional investors own 71.28% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William H. Rogers, Jr. purchased 34,180 shares of Truist Financial stock in a transaction dated Monday, November 25th. The stock was purchased at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the 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 sale, the director now owns 11,246 shares in the company, valued at $519,565.20. This trade represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. 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. The Goldman Sachs Group upped their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Barclays raised their target price on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Piper Sandler upped their price target on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada raised their price objective on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and an average price target of $49.89.

Truist Financial Stock Up 0.8 %

TFC opened at $43.13 on Tuesday. Truist Financial Co. has a twelve month low of $34.23 and a twelve month high of $49.06. The company’s 50-day moving average price is $45.38 and its two-hundred day moving average price is $43.42. The stock has a market cap of $57.26 billion, a price-to-earnings ratio of -30.16, a PEG ratio of 1.88 and a beta of 1.08. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08. The business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. As a group, equities analysts expect that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Truist Financial 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.