Nkcfo LLC Takes Position in Truist Financial Co. (NYSE:TFC)

Nkcfo LLC purchased a new position in shares of Truist Financial Co. (NYSE:TFC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 58,600 shares of the insurance provider's stock, valued at approximately $2,542,000. Truist Financial comprises approximately 1.1% of Nkcfo LLC's holdings, making the stock its 20th biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in TFC. Strategic Financial Concepts LLC purchased a new stake in shares of Truist Financial in the fourth quarter valued at about $661,000. Principal Securities Inc. lifted its stake in Truist Financial by 6.2% in the 4th quarter. Principal Securities Inc. now owns 51,899 shares of the insurance provider's stock valued at $2,251,000 after buying an additional 3,041 shares in the last quarter. Congress Asset Management Co. acquired a new stake in Truist Financial during the 4th quarter valued at $1,387,000. Roxbury Financial LLC acquired a new position in shares of Truist Financial in the fourth quarter worth $475,000. Finally, Blue Trust Inc. lifted its position in shares of Truist Financial by 10.6% in the fourth quarter. Blue Trust Inc. now owns 38,283 shares of the insurance provider's stock valued at $1,661,000 after acquiring an additional 3,659 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Down 1.1 %

NYSE TFC traded down $0.51 during trading hours on Wednesday, hitting $47.10. The company had a trading volume of 2,394,186 shares, compared to its average volume of 7,338,754. The firm's 50 day moving average is $45.55 and its 200 day moving average is $44.41. 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 fifty-two week low of $34.26 and a fifty-two week high of $49.06. The company has a market capitalization of $62.53 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 1.64 and a beta of 1.08.

Truist Financial (NYSE:TFC - Get Free Report) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion during 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%. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.81 earnings per share. Sell-side analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.42%. Truist Financial's dividend payout ratio is currently 62.46%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Citigroup boosted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company a "neutral" rating in a research note on Monday, November 25th. Hsbc Global Res raised shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their target price on shares of Truist Financial from $55.00 to $57.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 21st. StockNews.com raised Truist Financial from a "sell" rating to a "hold" rating in a research note on Friday, January 17th. Finally, Wells Fargo & Company lifted their price objective on Truist Financial from $48.00 to $52.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $50.79.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction 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 transaction, the director now directly owns 11,246 shares in the company, valued at $519,565.20. This represents a 30.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly 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 currently owned by corporate insiders.

Truist Financial Company 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.