Louisiana State Employees Retirement System Sells 4,000 Shares of Truist Financial Co. (NYSE:TFC)

Louisiana State Employees Retirement System decreased its stake in Truist Financial Co. (NYSE:TFC) by 5.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 71,400 shares of the insurance provider’s stock after selling 4,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Truist Financial were worth $3,097,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Tradewinds LLC. grew its stake in shares of Truist Financial by 0.5% during the third quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock worth $1,904,000 after buying an additional 222 shares during the last quarter. PBMares Wealth Management LLC lifted its holdings in shares of Truist Financial by 0.8% during the fourth quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock worth $1,270,000 after purchasing an additional 224 shares during the period. Koshinski Asset Management Inc. lifted its holdings in shares of Truist Financial by 2.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock worth $470,000 after purchasing an additional 225 shares during the period. Aaron Wealth Advisors LLC lifted its holdings in shares of 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 purchasing an additional 227 shares during the period. Finally, Ignite Planners LLC lifted its holdings in shares of Truist Financial by 1.4% during the fourth quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock worth $772,000 after purchasing an additional 246 shares during the period. Institutional investors own 71.28% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William H. Rogers, Jr. acquired 34,180 shares of Truist Financial stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the transaction, the chief executive officer now owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the transaction, the director now directly owns 11,246 shares of the company’s stock, 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TFC shares. 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 report on Tuesday, January 7th. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Morgan Stanley boosted their target price on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Citigroup boosted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Finally, UBS Group boosted their target price on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $50.79.

Truist Financial Trading Up 0.2 %

NYSE:TFC opened at $46.46 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a 50-day moving average of $45.55 and a 200-day moving average of $44.32. The company has a market cap of $61.67 billion, a PE ratio of 13.95, a PEG ratio of 1.69 and a beta of 1.08. Truist Financial Co. has a one year low of $34.26 and a one year high of $49.06.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 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 the consensus estimate of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.81 earnings per share. As a group, equities research analysts expect that Truist Financial Co. will post 3.98 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

Truist Financial 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.