CarsonAllaria Wealth Management Ltd. Has $163,000 Stock Holdings in Truist Financial Co. (NYSE:TFC)

CarsonAllaria Wealth Management Ltd. lowered its stake in Truist Financial Co. (NYSE:TFC) by 6.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,207 shares of the insurance provider’s stock after selling 307 shares during the period. CarsonAllaria Wealth Management Ltd.’s holdings in Truist Financial were worth $163,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of TFC. Hobbs Group Advisors LLC acquired a new stake in shares of Truist Financial in the 2nd quarter valued at $38,000. Sunpointe LLC boosted its stake in Truist Financial by 5.9% in the second quarter. Sunpointe LLC now owns 6,138 shares of the insurance provider’s stock valued at $238,000 after buying an additional 343 shares in the last quarter. Eagle Bluffs Wealth Management LLC bought a new position in Truist Financial in the second quarter valued at about $1,361,000. ZWJ Investment Counsel Inc. raised its stake in Truist Financial by 7.9% during the second quarter. ZWJ Investment Counsel Inc. now owns 47,594 shares of the insurance provider’s stock worth $1,849,000 after acquiring an additional 3,483 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in shares of Truist Financial by 3.0% in the second quarter. First Horizon Advisors Inc. now owns 20,760 shares of the insurance provider’s stock worth $807,000 after acquiring an additional 595 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Truist Financial

In related news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were acquired at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the transaction, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at approximately $25,025,153.16. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TFC shares. Argus upped their price objective on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. HSBC increased their price target on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Keefe, Bruyette & Woods boosted their price objective on Truist Financial from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Finally, Barclays lifted their price target on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $45.30.

Truist Financial Stock Down 1.6 %

Truist Financial stock traded down $0.69 during mid-day trading on Tuesday, reaching $42.26. The stock had a trading volume of 5,147,316 shares, compared to its average volume of 8,361,524. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Co. has a fifty-two week low of $26.57 and a fifty-two week high of $45.31. The stock’s 50-day simple moving average is $40.50 and its 200-day simple moving average is $38.40. The firm has a market capitalization of $56.55 billion, a PE ratio of -32.02, a price-to-earnings-growth ratio of 1.96 and a beta of 1.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.07. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The business’s revenue was down 15.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 earnings per share. On average, sell-side analysts forecast that Truist Financial Co. will post 3.56 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date is Friday, August 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

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.