FDx Advisors Inc. Sells 361 Shares of Truist Financial Co. (NYSE:TFC)

FDx Advisors Inc. reduced its position in Truist Financial Co. (NYSE:TFC) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,065 shares of the insurance provider’s stock after selling 361 shares during the quarter. FDx Advisors Inc.’s holdings in Truist Financial were worth $263,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. AMF Tjanstepension AB bought a new position in shares of Truist Financial in the 3rd quarter worth about $3,208,000. Allspring Global Investments Holdings LLC increased its holdings in Truist Financial by 8.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 77,332 shares of the insurance provider’s stock worth $3,307,000 after purchasing an additional 5,786 shares in the last quarter. Eastern Bank acquired a new position in Truist Financial in the third quarter valued at approximately $192,000. Private Advisor Group LLC boosted its holdings in shares of Truist Financial by 6.3% during the 3rd quarter. Private Advisor Group LLC now owns 79,474 shares of the insurance provider’s stock worth $3,399,000 after buying an additional 4,718 shares in the last quarter. Finally, Greenleaf Trust boosted its holdings in shares of Truist Financial by 6.5% during the 3rd quarter. Greenleaf Trust now owns 13,099 shares of the insurance provider’s stock worth $560,000 after buying an additional 795 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Down 2.1 %

TFC opened at $45.67 on Friday. Truist Financial Co. has a fifty-two week low of $34.26 and a fifty-two week high of $49.06. 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 company’s 50-day moving average is $45.61 and its 200 day moving average is $44.47. The firm has a market capitalization of $60.62 billion, a P/E ratio of 13.71, a PEG ratio of 1.66 and a beta of 1.08.

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

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio is presently 62.46%.

Analyst Upgrades and Downgrades

TFC has been the topic of several research analyst reports. Compass Point increased their target price 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. Stephens increased their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Wells Fargo & Company boosted their target price on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Piper Sandler increased their price target on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley raised their price objective on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s 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 completion of the sale, the director now owns 11,246 shares in the company, valued at $519,565.20. This trade represents a 30.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 acquisition, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. This trade represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

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.