Truist Financial Co. (NYSE:TFC) Shares Acquired by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC lifted its position in Truist Financial Co. (NYSE:TFC) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,584 shares of the insurance provider’s stock after purchasing an additional 473 shares during the period. Sage Mountain Advisors LLC’s holdings in Truist Financial were worth $459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in TFC. Assetmark Inc. grew its position in shares of Truist Financial by 15.9% during the 3rd quarter. Assetmark Inc. now owns 46,598 shares of the insurance provider’s stock valued at $1,993,000 after acquiring an additional 6,407 shares during the period. Sigma Planning Corp raised its position in shares of Truist Financial by 5.7% during the 3rd quarter. Sigma Planning Corp now owns 20,467 shares of the insurance provider’s stock worth $875,000 after purchasing an additional 1,106 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Truist Financial during the 3rd quarter worth approximately $45,000. Venturi Wealth Management LLC lifted its position in shares of Truist Financial by 6.2% in the third quarter. Venturi Wealth Management LLC now owns 10,229 shares of the insurance provider’s stock valued at $437,000 after acquiring an additional 599 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its stake in shares of Truist Financial by 14.3% in the third quarter. Apollon Wealth Management LLC now owns 49,157 shares of the insurance provider’s stock worth $2,102,000 after acquiring an additional 6,136 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Down 1.0 %

Shares of NYSE:TFC opened at $39.96 on Wednesday. The company has a market capitalization of $52.16 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 12-month low of $34.51 and a 12-month high of $49.06. The business has a 50-day moving average price of $45.60 and a 200 day moving average price of $44.65. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period last year, the business earned $0.81 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Sell-side analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

Analyst Ratings Changes

Several research analysts recently commented on TFC shares. The Goldman Sachs Group increased their price objective on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler upped their target price on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Stephens raised 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. Raymond James upped their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.16.

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.