Aprio Wealth Management LLC Purchases 300 Shares of Truist Financial Co. (NYSE:TFC)

Aprio Wealth Management LLC lifted its position in shares of Truist Financial Co. (NYSE:TFC) by 4.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 7,086 shares of the insurance provider’s stock after buying an additional 300 shares during the quarter. Aprio Wealth Management LLC’s holdings in Truist Financial were worth $307,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Tradewinds LLC. increased its holdings in shares of Truist Financial by 0.5% in the 3rd quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock worth $1,904,000 after purchasing an additional 222 shares in the last quarter. Burkett Financial Services LLC increased its holdings in Truist Financial by 26.8% in the 3rd quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock worth $51,000 after buying an additional 253 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its stake in Truist Financial by 2.7% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 10,399 shares of the insurance provider’s stock valued at $445,000 after acquiring an additional 270 shares during the period. Bangor Savings Bank boosted its holdings in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 272 shares during the last quarter. Finally, Meridian Wealth Management LLC grew its stake in shares of Truist Financial by 1.3% in the third quarter. Meridian Wealth Management LLC now owns 21,733 shares of the insurance provider’s stock worth $930,000 after acquiring an additional 280 shares during the period. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TFC has been the topic of several research reports. Wells Fargo & Company raised 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. Keefe, Bruyette & Woods raised their price target on Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. Compass Point raised their target price on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Citigroup raised their price objective 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. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and an average target price of $49.89.

Truist Financial Trading Up 0.8 %

Shares of TFC opened at $43.13 on Tuesday. The firm has a market cap of $57.26 billion, a P/E ratio of -30.16, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. Truist Financial Co. has a 1 year low of $34.23 and a 1 year high of $49.06. The company has a 50 day simple moving average of $45.38 and a two-hundred day simple moving average of $43.42.

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

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.82%. Truist Financial’s dividend payout ratio is currently -145.45%.

Insider Transactions at Truist Financial

In other news, CEO William H. Rogers, Jr. acquired 34,180 shares of Truist Financial stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average cost of $48.56 per share, with a total value 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 $33,576,860.56. This trade represents a 5.20 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the transaction, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. This trade represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

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.