EPG Wealth Management LLC grew its position in Truist Financial Co. (NYSE:TFC) by 11.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,765 shares of the insurance provider’s stock after purchasing an additional 575 shares during the period. EPG Wealth Management LLC’s holdings in Truist Financial were worth $338,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. ACG Wealth increased its holdings in shares of Truist Financial by 2.1% in the 3rd quarter. ACG Wealth now owns 7,817 shares of the insurance provider’s stock valued at $458,000 after acquiring an additional 159 shares during the last quarter. Smithfield Trust Co lifted its position in Truist Financial by 2.3% during the 3rd quarter. Smithfield Trust Co now owns 7,031 shares of the insurance provider’s stock worth $414,000 after acquiring an additional 160 shares during the period. Fort Sheridan Advisors LLC lifted its position in Truist Financial by 1.1% during the 3rd quarter. Fort Sheridan Advisors LLC now owns 14,549 shares of the insurance provider’s stock worth $853,000 after acquiring an additional 160 shares during the period. Centaurus Financial Inc. lifted its position in Truist Financial by 2.7% during the 3rd quarter. Centaurus Financial Inc. now owns 6,069 shares of the insurance provider’s stock worth $356,000 after acquiring an additional 162 shares during the period. Finally, TCI Wealth Advisors Inc. lifted its holdings in Truist Financial by 10.0% in the third quarter. TCI Wealth Advisors Inc. now owns 1,873 shares of the insurance provider’s stock valued at $110,000 after acquiring an additional 171 shares during the period. 71.89% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently commented on the stock. Stephens boosted their price objective on shares of Truist Financial from $72.00 to $73.50 and gave the stock an “overweight” rating in a research report on Wednesday, January 19th. Credit Suisse Group upped their price objective on shares of Truist Financial from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, January 24th. Morgan Stanley upped their price objective on shares of Truist Financial from $68.00 to $72.00 and gave the company an “equal weight” rating in a research note on Monday, December 6th. UBS Group raised shares of Truist Financial from a “neutral” rating to a “buy” rating and upped their price objective for the company from $63.00 to $77.00 in a research note on Wednesday, January 19th. Finally, JPMorgan Chase & Co. increased their target price on shares of Truist Financial from $67.50 to $68.50 and gave the stock a “neutral” rating in a research report on Thursday, January 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $68.21.
In related news, EVP Joseph M. Thompson sold 3,750 shares of the stock in a transaction dated Wednesday, January 19th. The shares were sold at an average price of $67.69, for a total transaction of $253,837.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.37% of the company’s stock.
Shares of Truist Financial stock opened at $63.58 on Monday. The firm has a market cap of $84.87 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 2.27 and a beta of 1.27. The firm’s 50-day simple moving average is $61.86 and its 200-day simple moving average is $60.20. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.74 and a current ratio of 0.76. Truist Financial Co. has a 1 year low of $51.87 and a 1 year high of $68.95.
Truist Financial (NYSE:TFC) last issued its earnings results on Tuesday, January 18th. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.12. Truist Financial had a net margin of 27.30% and a return on equity of 12.36%. During the same period last year, the firm posted $1.18 EPS. On average, equities analysts predict that Truist Financial Co. will post 4.79 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 1st. Stockholders of record on Friday, February 11th will be paid a $0.48 dividend. The ex-dividend date is Thursday, February 10th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.02%. Truist Financial’s dividend payout ratio (DPR) is presently 42.95%.
About Truist Financial
Truist Financial Corp. operates as a financial holding company, which engages in the provision of banking services to individuals, businesses and municipalities. The firm offers a variety of loans and lease financing to individuals and entities, including insurance premium financing, permanent commercial real estate financing arrangements, loan servicing for third-party investors, direct consumer finance loans to individuals, credit card lending, automobile financing and equipment financing.
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