SeaCrest Wealth Management LLC Lowers Stock Position in Truist Financial Co. (NYSE:TFC)

SeaCrest Wealth Management LLC cut its holdings in Truist Financial Co. (NYSE:TFC) by 1.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 47,174 shares of the insurance provider’s stock after selling 553 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Truist Financial were worth $2,046,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Acadian Asset Management LLC purchased a new position in shares of Truist Financial during the second quarter valued at approximately $1,111,000. Parallel Advisors LLC increased its position in Truist Financial by 5.0% during the 2nd quarter. Parallel Advisors LLC now owns 9,843 shares of the insurance provider’s stock valued at $382,000 after buying an additional 473 shares in the last quarter. Plato Investment Management Ltd raised its stake in Truist Financial by 48.2% during the second quarter. Plato Investment Management Ltd now owns 6,537 shares of the insurance provider’s stock valued at $254,000 after buying an additional 2,125 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Truist Financial by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after acquiring an additional 299,196 shares in the last quarter. Finally, Citizens Financial Group Inc. RI grew its stake in shares of Truist Financial by 33.0% in the second quarter. Citizens Financial Group Inc. RI now owns 8,610 shares of the insurance provider’s stock worth $334,000 after acquiring an additional 2,136 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO William H. Rogers, Jr. purchased 34,180 shares of the company’s stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, for a total transaction 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were 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. The trade was a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Truist Financial Trading Up 1.7 %

Shares of NYSE:TFC opened at $43.87 on Wednesday. The stock’s 50-day simple moving average is $45.41 and its two-hundred day simple moving average is $43.46. The stock has a market capitalization of $58.24 billion, a price-to-earnings ratio of -30.68, a PEG ratio of 1.88 and a beta of 1.08. Truist Financial Co. has a 52-week low of $34.23 and a 52-week high of $49.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85.

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

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.74%. The ex-dividend date was Friday, November 8th. Truist Financial’s dividend payout ratio is presently -145.45%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group lifted their price target on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Wells Fargo & Company lifted their target price on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. JPMorgan Chase & Co. upped their target price on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. Finally, Piper Sandler boosted their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.89.

About Truist Financial

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.