SG Americas Securities LLC Lowers Holdings in Truist Financial Corporation $TFC

SG Americas Securities LLC lowered its position in Truist Financial Corporation (NYSE:TFC) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 268,312 shares of the insurance provider’s stock after selling 13,705 shares during the quarter. SG Americas Securities LLC’s holdings in Truist Financial were worth $13,204,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TFC. Independent Advisor Alliance boosted its holdings in shares of Truist Financial by 9.7% in the 3rd quarter. Independent Advisor Alliance now owns 329,093 shares of the insurance provider’s stock valued at $15,046,000 after buying an additional 29,191 shares in the last quarter. Cullen Capital Management LLC grew its position in shares of Truist Financial by 10.3% in the 3rd quarter. Cullen Capital Management LLC now owns 4,591,783 shares of the insurance provider’s stock worth $209,936,000 after buying an additional 427,067 shares during the last quarter. Brookstone Capital Management raised its stake in shares of Truist Financial by 12.3% during the 3rd quarter. Brookstone Capital Management now owns 336,095 shares of the insurance provider’s stock worth $15,366,000 after acquiring an additional 36,916 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Truist Financial by 2.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 421,809 shares of the insurance provider’s stock valued at $19,285,000 after acquiring an additional 10,706 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in Truist Financial by 18.6% during the third quarter. Oppenheimer & Co. Inc. now owns 169,030 shares of the insurance provider’s stock valued at $7,728,000 after acquiring an additional 26,530 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Insider Transactions at Truist Financial

In other Truist Financial news, CAO Cynthia B. Powell sold 3,500 shares of Truist Financial stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $52.49, for a total transaction of $183,715.00. Following the completion of the sale, the chief accounting officer owned 667 shares of the company’s stock, valued at approximately $35,010.83. The trade was a 83.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael Baron Maguire sold 13,000 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $50.13, for a total value of $651,690.00. Following the sale, the chief financial officer owned 74,323 shares in the company, valued at approximately $3,725,811.99. The trade was a 14.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.15% of the company’s stock.

Truist Financial Stock Down 1.0%

NYSE:TFC opened at $44.54 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $56.19. The company has a market cap of $55.27 billion, a PE ratio of 11.69, a P/E/G ratio of 0.75 and a beta of 0.87. The company’s 50 day moving average is $49.44 and its two-hundred day moving average is $47.57.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.09). Truist Financial had a return on equity of 9.03% and a net margin of 17.09%.The company had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the prior year, the business posted $0.91 EPS. The company’s quarterly revenue was up 3.6% on a year-over-year basis. Analysts anticipate that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial announced that its Board of Directors has approved a share buyback plan on Tuesday, December 16th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to buy up to 15.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Friday, February 13th. Truist Financial’s dividend payout ratio is presently 54.59%.

Analyst Ratings Changes

Several research firms have issued reports on TFC. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and set a $52.00 price target on the stock in a report on Monday, March 9th. Keefe, Bruyette & Woods increased their price objective on Truist Financial from $49.00 to $53.00 and gave the company a “market perform” rating in a report on Wednesday, December 17th. Weiss Ratings cut Truist Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, March 12th. The Goldman Sachs Group restated a “buy” rating and set a $58.00 target price on shares of Truist Financial in a research note on Tuesday, January 6th. Finally, Evercore reaffirmed an “outperform” rating on shares of Truist Financial in a research report on Thursday, February 5th. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and an average price target of $55.13.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.