Kempner Capital Management Inc. Sells 18,791 Shares of Truist Financial Co. (NYSE:TFC)

Kempner Capital Management Inc. trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 15.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 106,692 shares of the insurance provider's stock after selling 18,791 shares during the period. Truist Financial makes up approximately 2.5% of Kempner Capital Management Inc.'s investment portfolio, making the stock its 19th largest holding. Kempner Capital Management Inc.'s holdings in Truist Financial were worth $4,628,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Truist Financial by 48.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider's stock worth $129,000 after acquiring an additional 971 shares during the period. Principal Financial Group Inc. grew its holdings in Truist Financial by 3.5% during the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider's stock worth $64,638,000 after acquiring an additional 50,637 shares during the period. Cadence Bank grew its holdings in Truist Financial by 101.6% during the third quarter. Cadence Bank now owns 185,184 shares of the insurance provider's stock worth $7,920,000 after acquiring an additional 93,322 shares during the period. Boston Common Asset Management LLC grew its holdings in Truist Financial by 66.4% during the third quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider's stock worth $6,609,000 after acquiring an additional 61,683 shares during the period. Finally, Independent Advisor Alliance grew its holdings in Truist Financial by 10.7% during the third quarter. Independent Advisor Alliance now owns 282,607 shares of the insurance provider's stock worth $12,087,000 after acquiring an additional 27,408 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TFC shares. Morgan Stanley lifted their target price on Truist Financial from $55.00 to $56.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 21st. Raymond James increased their price target on Truist Financial from $47.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. increased their price target on Truist Financial from $43.50 to $47.00 and gave the company a "neutral" rating in a research report on Wednesday, October 16th. Piper Sandler increased their price target on Truist Financial from $46.00 to $51.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada increased their price target on Truist Financial from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Friday, October 18th. Eleven investment 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $50.79.

Insider Activity at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the business's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the transaction, the director now owns 11,246 shares of the company's stock, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of Truist Financial stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the purchase, the chief executive officer now owns 691,451 shares of the company's stock, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is owned by insiders.

Truist Financial Stock Performance

Shares of TFC traded down $0.38 on Friday, reaching $47.64. 12,372,046 shares of the stock traded hands, compared to its average volume of 6,889,529. The firm has a market cap of $63.24 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 1.68 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06. The stock's 50-day moving average price is $45.55 and its 200-day moving average price is $44.09.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. Truist Financial's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 EPS. Equities analysts forecast that Truist Financial Co. will post 3.95 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial's dividend payout ratio is 62.46%.

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.