One Wealth Advisors LLC Acquires Shares of 9,888 Truist Financial Corporation $TFC

One Wealth Advisors LLC acquired a new stake in Truist Financial Corporation (NYSE:TFC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 9,888 shares of the insurance provider’s stock, valued at approximately $493,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in TFC. Kemnay Advisory Services Inc. acquired a new stake in Truist Financial during the 4th quarter valued at $25,000. Swiss RE Ltd. bought a new position in Truist Financial during the fourth quarter worth $26,000. McMillan Office Inc. acquired a new position in shares of Truist Financial in the fourth quarter valued at $31,000. Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of Truist Financial by 190.7% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 431 shares during the last quarter. Finally, Ancora Advisors LLC increased its holdings in shares of Truist Financial by 259.1% in the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 500 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. UBS Group cut shares of Truist Financial from a “buy” rating to a “neutral” rating and cut their target price for the stock from $58.00 to $55.00 in a research note on Tuesday, July 7th. Stephens reduced their target price on shares of Truist Financial from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. JPMorgan Chase & Co. upped their price target on shares of Truist Financial from $53.00 to $54.00 and gave the company an “underweight” rating in a research note on Wednesday, July 29th. Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $63.00 to $54.00 in a report on Tuesday, June 30th. Finally, Robert W. Baird raised their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $54.67.

Insider Buying and Selling at Truist Financial

In related news, insider Donta L. Wilson sold 13,280 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $51.85, for a total value of $688,568.00. Following the completion of the sale, the insider directly owned 56,009 shares in the company, valued at approximately $2,904,066.65. The trade was a 19.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director K. David Jr. Boyer sold 3,986 shares of the stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $50.70, for a total value of $202,090.20. Following the sale, the director directly owned 10,270 shares in the company, valued at $520,689. This represents a 27.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 30,516 shares of company stock valued at $1,584,428 in the last quarter. Company insiders own 0.15% of the company’s stock.

Truist Financial Stock Up 0.2%

TFC stock opened at $53.08 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $64.84 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.12 and a beta of 0.89. The business’s fifty day moving average price is $51.13 and its two-hundred day moving average price is $49.80. Truist Financial Corporation has a fifty-two week low of $40.78 and a fifty-two week high of $56.19.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.24 billion. During the same quarter in the previous year, the business posted $0.91 earnings per share. Truist Financial’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities analysts anticipate that Truist Financial Corporation will post 4.58 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a $0.52 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.08 annualized dividend and a yield of 3.9%. Truist Financial’s payout ratio is 47.71%.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.