Truist Financial Co. (NYSE:TFC) Shares Sold by Ballast Inc.

Ballast Inc. trimmed its position in Truist Financial Co. (NYSE:TFC) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,058 shares of the insurance provider’s stock after selling 2,043 shares during the quarter. Ballast Inc.’s holdings in Truist Financial were worth $1,694,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TFC. My Legacy Advisors LLC lifted its position in shares of Truist Financial by 16.2% in the fourth quarter. My Legacy Advisors LLC now owns 13,361 shares of the insurance provider’s stock valued at $606,000 after acquiring an additional 1,862 shares in the last quarter. Lbmc Investment Advisors LLC raised its holdings in Truist Financial by 3.9% in the 4th quarter. Lbmc Investment Advisors LLC now owns 8,415 shares of the insurance provider’s stock valued at $365,000 after acquiring an additional 317 shares during the last quarter. HF Advisory Group LLC lifted its position in Truist Financial by 50.5% during the fourth quarter. HF Advisory Group LLC now owns 35,117 shares of the insurance provider’s stock worth $1,523,000 after buying an additional 11,789 shares in the last quarter. Aaron Wealth Advisors LLC boosted its stake in Truist Financial by 3.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock worth $335,000 after buying an additional 227 shares during the last quarter. Finally, Financial Management Professionals Inc. increased its stake in shares of Truist Financial by 12.8% in the 4th quarter. Financial Management Professionals Inc. now owns 10,693 shares of the insurance provider’s stock worth $464,000 after acquiring an additional 1,211 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Raymond James raised their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday. Stephens reiterated an “overweight” rating and issued a $54.00 price objective on shares of Truist Financial in a research report on Thursday, January 2nd. Compass Point upped their price target on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Citigroup increased their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.95.

Truist Financial Price Performance

Truist Financial stock opened at $47.63 on Friday. The company has a fifty day simple moving average of $45.40 and a 200-day simple moving average of $43.54. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5,047,370 billion. During the same period in the previous year, the business earned $0.81 EPS. Truist Financial’s revenue for the quarter was up 3.4% on a year-over-year basis. Research analysts expect that Truist Financial Co. will post 3.61 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were issued 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 yield of 4.37%. Truist Financial’s payout ratio is currently -145.45%.

Insider Transactions at Truist Financial

In related news, CEO William H. Rogers, Jr. bought 34,180 shares of the stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the purchase, the chief executive officer now 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 document filed with the SEC, which is accessible through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the sale, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. 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.