Truist Financial Co. (NYSE:TFC) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its holdings in shares of Truist Financial Co. (NYSE:TFC) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,288 shares of the insurance provider’s stock after selling 5,420 shares during the period. Kentucky Retirement Systems’ holdings in Truist Financial were worth $3,948,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Kingswood Wealth Advisors LLC bought a new position in shares of Truist Financial in the fourth quarter valued at approximately $445,000. Planned Solutions Inc. bought a new position in Truist Financial during the 4th quarter valued at $108,000. Great Lakes Retirement Inc. increased its position in shares of Truist Financial by 6.0% during the 4th quarter. Great Lakes Retirement Inc. now owns 23,838 shares of the insurance provider’s stock valued at $880,000 after purchasing an additional 1,354 shares during the period. Uncommon Cents Investing LLC raised its stake in shares of Truist Financial by 19.4% in the 4th quarter. Uncommon Cents Investing LLC now owns 11,345 shares of the insurance provider’s stock worth $419,000 after buying an additional 1,846 shares in the last quarter. Finally, Meadow Creek Wealth Advisors LLC acquired a new stake in shares of Truist Financial in the fourth quarter valued at $662,000. 71.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on TFC shares. The Goldman Sachs Group boosted their price target on shares of Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. HSBC boosted their target price on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Evercore ISI restated an “in-line” rating and set a $44.00 target price on shares of Truist Financial in a report on Thursday, May 9th. Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research report on Wednesday, July 17th. Finally, Argus increased their price objective on Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Truist Financial has an average rating of “Hold” and a consensus target price of $45.05.

Truist Financial Stock Up 0.7 %

Shares of Truist Financial stock traded up $0.30 on Friday, hitting $44.42. 7,274,609 shares of the company traded hands, compared to its average volume of 7,258,491. Truist Financial Co. has a 12-month low of $26.57 and a 12-month high of $44.78. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. The company has a market cap of $59.44 billion, a PE ratio of -33.65, a PEG ratio of 2.07 and a beta of 1.07. The company has a 50-day moving average price of $38.81 and a 200 day moving average price of $37.75.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates 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 positive return on equity of 9.18% and a negative net margin of 5.63%. The business’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 earnings per share. Sell-side analysts predict that Truist Financial Co. will post 3.57 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be given a $0.52 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.68%. Truist Financial’s dividend payout ratio is currently -157.58%.

Insider Transactions at Truist Financial

In related news, CEO William H. Rogers, Jr. bought 57,300 shares of Truist Financial stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the acquisition, the chief executive officer now owns 569,271 shares in the company, valued at $25,025,153.16. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

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.