LVW Advisors LLC Sells 2,394 Shares of Truist Financial Co. (NYSE:TFC)

LVW Advisors LLC trimmed its position in Truist Financial Co. (NYSE:TFC) by 16.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,447 shares of the insurance provider’s stock after selling 2,394 shares during the quarter. LVW Advisors LLC’s holdings in Truist Financial were worth $512,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. FWG Holdings LLC increased its holdings in shares of Truist Financial by 4.3% in the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock worth $267,000 after purchasing an additional 234 shares during the last quarter. Avestar Capital LLC increased its holdings in shares of Truist Financial by 4.1% in the fourth quarter. Avestar Capital LLC now owns 6,299 shares of the insurance provider’s stock worth $273,000 after purchasing an additional 250 shares during the last quarter. Pathway Financial Advisors LLC increased its holdings in shares of Truist Financial by 2.2% in the fourth quarter. Pathway Financial Advisors LLC now owns 12,124 shares of the insurance provider’s stock worth $526,000 after purchasing an additional 260 shares during the last quarter. Nwam LLC increased its stake in Truist Financial by 3.2% during the fourth quarter. Nwam LLC now owns 8,395 shares of the insurance provider’s stock worth $364,000 after acquiring an additional 263 shares during the last quarter. Finally, Wealth Quarterback LLC increased its stake in Truist Financial by 1.8% during the fourth quarter. Wealth Quarterback LLC now owns 15,287 shares of the insurance provider’s stock worth $663,000 after acquiring an additional 266 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Performance

Shares of TFC stock opened at $39.19 on Tuesday. The business’s fifty day simple moving average is $38.52 and its 200-day simple moving average is $42.80. The company has a market cap of $51.32 billion, a PE ratio of 11.77, a PEG ratio of 1.63 and a beta of 0.83. 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 Co. has a 12-month low of $33.56 and a 12-month high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.87. The business had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same period in the prior year, the firm posted $0.90 earnings per share. 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 declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial’s payout ratio is presently 61.36%.

Analyst Ratings Changes

A number of brokerages recently issued reports on TFC. Argus set a $43.00 price target on Truist Financial in a report on Monday, April 21st. Piper Sandler lowered their target price on Truist Financial from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Wells Fargo & Company lowered their target price on Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, March 28th. JPMorgan Chase & Co. lowered their target price on Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Finally, Morgan Stanley lowered their target price on Truist Financial from $50.00 to $43.00 and set an “equal weight” rating for the company in a report on Monday, April 7th. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $47.83.

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.