Stonegate Investment Group LLC Increases Stock Position in Truist Financial Co. (NYSE:TFC)

Stonegate Investment Group LLC lifted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 30.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,277 shares of the insurance provider’s stock after purchasing an additional 1,473 shares during the period. Stonegate Investment Group LLC’s holdings in Truist Financial were worth $272,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Perigon Wealth Management LLC raised its holdings in shares of Truist Financial by 18.1% in the fourth quarter. Perigon Wealth Management LLC now owns 10,836 shares of the insurance provider’s stock worth $487,000 after acquiring an additional 1,661 shares during the last quarter. Diamant Asset Management Inc. increased its position in Truist Financial by 9.3% during the 4th quarter. Diamant Asset Management Inc. now owns 39,821 shares of the insurance provider’s stock worth $1,727,000 after purchasing an additional 3,390 shares in the last quarter. BankPlus Wealth Management LLC purchased a new position in Truist Financial in the 4th quarter valued at about $320,000. Nilsine Partners LLC boosted its stake in shares of Truist Financial by 24.6% during the 4th quarter. Nilsine Partners LLC now owns 6,701 shares of the insurance provider’s stock worth $291,000 after purchasing an additional 1,325 shares during the last quarter. Finally, Lebenthal Global Advisors LLC grew its holdings in shares of Truist Financial by 4.1% during the fourth quarter. Lebenthal Global Advisors LLC now owns 20,714 shares of the insurance provider’s stock worth $899,000 after buying an additional 812 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Performance

Truist Financial stock opened at $47.25 on Wednesday. The firm has a market capitalization of $62.72 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. Truist Financial Co. has a one year low of $34.23 and a one year high of $49.06. The stock’s 50 day moving average price is $45.50 and its 200 day moving average price is $43.95. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating 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 business 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 firm earned $0.81 earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, sell-side analysts expect that Truist Financial Co. will post 3.95 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.40%. Truist Financial’s payout ratio is 62.46%.

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 value of $229,429.20. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of Truist Financial stock in a transaction dated Monday, November 25th. The shares were bought 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. The trade was a 5.20 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on TFC shares. Morgan Stanley upped their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group raised their price objective on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Royal Bank of Canada upped their target price on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Citigroup raised their price target on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and an average 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.