Rhumbline Advisers Has $106.70 Million Stock Holdings in Truist Financial Co. (NYSE:TFC)

Rhumbline Advisers decreased its stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,459,593 shares of the insurance provider's stock after selling 55,593 shares during the period. Rhumbline Advisers owned about 0.19% of Truist Financial worth $106,697,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of TFC. Tradewinds LLC. grew its position in shares of Truist Financial by 0.5% in the 3rd quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider's stock worth $1,904,000 after acquiring an additional 222 shares in the last quarter. PBMares Wealth Management LLC increased its stake in Truist Financial by 0.8% during the fourth quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider's stock valued at $1,270,000 after purchasing an additional 224 shares during the last quarter. Koshinski Asset Management Inc. raised its holdings in shares of Truist Financial by 2.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider's stock worth $470,000 after purchasing an additional 225 shares during the period. Aaron Wealth Advisors LLC boosted its holdings in shares of Truist Financial by 3.0% in the 4th quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider's stock valued at $335,000 after buying an additional 227 shares during the period. Finally, Ignite Planners LLC grew its position in shares of Truist Financial by 1.4% during the 4th quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider's stock valued at $772,000 after buying an additional 246 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director K. David Jr. Boyer sold 4,966 shares of the 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 completion of the sale, the director now owns 11,246 shares in the company, valued at $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the stock in a transaction dated Monday, November 25th. The shares were acquired at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the acquisition, the chief executive officer now directly owns 691,451 shares of the company's stock, valued at $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 company insiders.

Analysts Set New Price Targets

TFC has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price objective on Truist Financial from $50.00 to $60.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Morgan Stanley boosted their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company an "equal weight" rating in a report on Tuesday, January 21st. Compass Point increased their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. HSBC raised shares of Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a research note on Tuesday, January 7th. Finally, Hsbc Global Res upgraded shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.79.

Truist Financial Price Performance

Shares of NYSE TFC traded down $0.03 during midday trading on Wednesday, reaching $47.59. The company's stock had a trading volume of 5,871,089 shares, compared to its average volume of 7,453,162. Truist Financial Co. has a one year low of $34.26 and a one year high of $49.06. The company has a market cap of $63.17 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 1.64 and a beta of 1.08. The company has a 50 day moving average price of $45.55 and a 200 day moving average price of $44.41. 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 (NYSE:TFC - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analysts' expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm's revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 earnings per share. On average, equities research analysts expect that Truist Financial Co. will post 4 EPS for the current 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 given 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 dividend yield of 4.37%. Truist Financial's dividend payout ratio (DPR) is 62.46%.

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.