Kingsview Wealth Management LLC Grows Holdings in Truist Financial Co. (NYSE:TFC)

Kingsview Wealth Management LLC lifted its holdings in Truist Financial Co. (NYSE:TFC) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,289 shares of the insurance provider’s stock after buying an additional 947 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Truist Financial were worth $6,736,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Apollon Wealth Management LLC grew its position in shares of Truist Financial by 10.9% in the 4th quarter. Apollon Wealth Management LLC now owns 54,502 shares of the insurance provider’s stock worth $2,364,000 after buying an additional 5,345 shares during the period. Cantor Fitzgerald Investment Advisors L.P. grew its position in shares of Truist Financial by 0.9% in the 4th quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 416,364 shares of the insurance provider’s stock worth $18,062,000 after buying an additional 3,735 shares during the period. Shepherd Financial Partners LLC grew its position in shares of Truist Financial by 3.2% in the 4th quarter. Shepherd Financial Partners LLC now owns 10,477 shares of the insurance provider’s stock worth $454,000 after buying an additional 321 shares during the period. Lecap Asset Management Ltd. grew its position in shares of Truist Financial by 2.7% in the 4th quarter. Lecap Asset Management Ltd. now owns 28,912 shares of the insurance provider’s stock worth $1,254,000 after buying an additional 768 shares during the period. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Truist Financial in the 4th quarter worth about $94,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Compass Point upped their price target on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, January 7th. Royal Bank of Canada upped their price target on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Stephens upped their price target on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Finally, Raymond James upped their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Insider Buying and Selling at Truist Financial

In related news, CEO William H. Rogers, Jr. purchased 34,180 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the transaction, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the firm’s 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 completion of the sale, the director now 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 Price Performance

NYSE TFC opened at $47.68 on Friday. The company has a 50-day moving average price of $45.53 and a 200-day moving average price of $44.26. The firm has a market capitalization of $63.30 billion, a P/E ratio of 14.32, a PEG ratio of 1.69 and a beta of 1.08. Truist Financial Co. has a 52 week low of $34.23 and a 52 week high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 EPS. Equities research analysts anticipate that Truist Financial Co. will post 3.98 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is currently 62.46%.

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.