Altrius Capital Management Inc Sells 1,999 Shares of Truist Financial Co. (NYSE:TFC)

Altrius Capital Management Inc reduced its holdings in Truist Financial Co. (NYSE:TFC) by 23.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,432 shares of the insurance provider’s stock after selling 1,999 shares during the quarter. Altrius Capital Management Inc’s holdings in Truist Financial were worth $237,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bleakley Financial Group LLC grew its position in shares of Truist Financial by 6.1% in the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock worth $1,104,000 after buying an additional 1,731 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Truist Financial by 53.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock valued at $12,515,000 after buying an additional 117,524 shares during the last quarter. International Assets Investment Management LLC raised its stake in Truist Financial by 3,359.6% during the fourth quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock valued at $38,602,000 after buying an additional 1,015,338 shares during the last quarter. Loudon Investment Management LLC raised its stake in shares of Truist Financial by 18.5% in the third quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock worth $3,759,000 after purchasing an additional 20,490 shares during the last quarter. Finally, Pathstone Family Office LLC raised its stake in shares of Truist Financial by 84.8% in the third quarter. Pathstone Family Office LLC now owns 97,317 shares of the insurance provider’s stock worth $2,786,000 after purchasing an additional 44,659 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is owned by company insiders.

Truist Financial Price Performance

Shares of NYSE TFC traded up $0.14 during mid-day trading on Monday, reaching $38.31. The company’s stock had a trading volume of 6,441,390 shares, compared to its average volume of 9,564,943. The firm has a market capitalization of $51.13 billion, a PE ratio of -29.06, a P/E/G ratio of 2.01 and a beta of 1.08. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a fifty day moving average of $36.90 and a two-hundred day moving average of $34.90. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $39.29.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.09 earnings per share. As a group, sell-side analysts anticipate that Truist Financial Co. will post 3.27 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be given a $0.52 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.43%. Truist Financial’s dividend payout ratio is currently -157.58%.

Analyst Ratings Changes

TFC has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Citigroup lifted their price objective on Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Royal Bank of Canada lifted their price objective on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Raymond James lifted their price objective on Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Finally, Bank of America raised Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Thursday, January 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.97.

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.