RMR Wealth Builders Increases Stock Position in Truist Financial Co. (NYSE:TFC)

RMR Wealth Builders lifted its holdings in Truist Financial Co. (NYSE:TFC) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,165 shares of the insurance provider’s stock after buying an additional 324 shares during the quarter. RMR Wealth Builders’ holdings in Truist Financial were worth $831,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Parallel Advisors LLC grew its stake in shares of Truist Financial by 5.0% in the 2nd quarter. Parallel Advisors LLC now owns 9,843 shares of the insurance provider’s stock worth $382,000 after buying an additional 473 shares during the last quarter. Citizens Financial Group Inc. RI grew its stake in shares of Truist Financial by 33.0% in the second quarter. Citizens Financial Group Inc. RI now owns 8,610 shares of the insurance provider’s stock worth $334,000 after acquiring an additional 2,136 shares during the last quarter. Wealth Alliance increased its holdings in shares of Truist Financial by 3.7% during the second quarter. Wealth Alliance now owns 37,842 shares of the insurance provider’s stock valued at $1,470,000 after acquiring an additional 1,334 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of Truist Financial by 10.2% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 194,219 shares of the insurance provider’s stock worth $7,545,000 after purchasing an additional 17,968 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in Truist Financial by 5.1% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 44,317 shares of the insurance provider’s stock worth $1,722,000 after purchasing an additional 2,131 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 34,180 shares of Truist Financial stock in a transaction dated 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 acquisition, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. This trade represents a 5.20 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction 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 completion of the transaction, the director now 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 disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $45.40 on Thursday. The business has a 50 day simple moving average of $45.41 and a two-hundred day simple moving average of $43.46. Truist Financial Co. has a 1 year low of $34.23 and a 1 year high of $49.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data 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 positive return on equity of 9.35% and a negative net margin of 4.89%. The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Equities analysts anticipate that Truist Financial Co. will post 3.61 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 8th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend was Friday, November 8th. Truist Financial’s payout ratio is presently -145.45%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Thursday, January 9th. 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 research note on Tuesday, November 26th. Piper Sandler upped their price target on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Royal Bank of Canada lifted their price objective on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.89.

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.