Truist Financial Co. (NYSE:TFC) Shares Purchased by Neville Rodie & Shaw Inc.

Neville Rodie & Shaw Inc. grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 17.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 37,468 shares of the insurance provider’s stock after acquiring an additional 5,695 shares during the period. Neville Rodie & Shaw Inc.’s holdings in Truist Financial were worth $1,626,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. CWA Asset Management Group LLC boosted its stake in shares of Truist Financial by 9.5% during the 4th quarter. CWA Asset Management Group LLC now owns 49,000 shares of the insurance provider’s stock worth $2,126,000 after acquiring an additional 4,267 shares in the last quarter. First City Capital Management Inc. boosted its stake in shares of Truist Financial by 3.6% during the 4th quarter. First City Capital Management Inc. now owns 15,101 shares of the insurance provider’s stock worth $655,000 after acquiring an additional 520 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Truist Financial by 7.1% during the 4th quarter. GAMMA Investing LLC now owns 26,040 shares of the insurance provider’s stock worth $1,130,000 after acquiring an additional 1,732 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Truist Financial by 56.1% during the 4th quarter. Versant Capital Management Inc now owns 1,313 shares of the insurance provider’s stock worth $57,000 after acquiring an additional 472 shares in the last quarter. Finally, Trust Co of the South lifted its holdings in shares of Truist Financial by 7.4% in the fourth quarter. Trust Co of the South now owns 26,747 shares of the insurance provider’s stock valued at $1,160,000 after purchasing an additional 1,847 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Price Performance

NYSE:TFC traded up $0.70 during mid-day trading on Monday, reaching $44.80. 2,225,294 shares of the company were exchanged, compared to its average volume of 4,005,569. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The stock has a market cap of $59.47 billion, a PE ratio of -31.33, a PEG ratio of 1.88 and a beta of 1.08. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06. The company has a fifty day moving average of $45.30 and a 200 day moving average of $43.14.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating the consensus estimate 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 business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. On average, research analysts anticipate that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.64%. Truist Financial’s dividend payout ratio (DPR) is currently -145.45%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TFC. Keefe, Bruyette & Woods increased their target price on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. The Goldman Sachs Group increased their target price on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Piper Sandler increased their price objective on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company increased their price objective on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Twelve investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $49.17.

Insider Activity

In related news, Director K. David Jr. Boyer sold 4,966 shares of the 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 directly owns 11,246 shares in the company, valued at $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is owned by insiders.

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.