Wealthcare Advisory Partners LLC Sells 19,335 Shares of Truist Financial Corporation $TFC

Wealthcare Advisory Partners LLC decreased its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 8.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 211,369 shares of the insurance provider’s stock after selling 19,335 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Truist Financial were worth $9,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of TFC. Apexium Financial LP boosted its holdings in shares of Truist Financial by 10.8% during the 2nd quarter. Apexium Financial LP now owns 6,018 shares of the insurance provider’s stock worth $259,000 after buying an additional 587 shares during the period. Hennessy Advisors Inc. boosted its holdings in shares of Truist Financial by 12.3% during the second quarter. Hennessy Advisors Inc. now owns 36,500 shares of the insurance provider’s stock worth $1,569,000 after acquiring an additional 4,000 shares during the period. Keystone Financial Group Inc. grew its position in shares of Truist Financial by 1.3% in the second quarter. Keystone Financial Group Inc. now owns 21,283 shares of the insurance provider’s stock valued at $942,000 after purchasing an additional 266 shares during the last quarter. New Century Financial Group LLC increased its stake in shares of Truist Financial by 3.6% during the second quarter. New Century Financial Group LLC now owns 27,969 shares of the insurance provider’s stock worth $1,202,000 after purchasing an additional 964 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in Truist Financial during the 2nd quarter worth approximately $182,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Up 0.4%

Shares of TFC opened at $45.53 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06. The stock has a market capitalization of $58.71 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 1.46 and a beta of 0.88. The stock has a fifty day moving average of $45.15 and a 200-day moving average of $42.08.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The firm had revenue of $5.04 billion during the quarter, compared to analyst estimates of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.Truist Financial’s revenue for the quarter was down 406.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 EPS. As a group, sell-side analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 8th. This represents a $2.08 annualized dividend and a yield of 4.6%. Truist Financial’s dividend payout ratio (DPR) is currently 56.68%.

Insiders Place Their Bets

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the business’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction of $566,682.60. Following the sale, the insider directly owned 500 shares of the company’s stock, valued at $22,595. The trade was a 96.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.17% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TFC has been the topic of several recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Truist Financial in a research report on Saturday, September 27th. Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and increased their price target for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Keefe, Bruyette & Woods cut Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 target price for the company. in a research note on Wednesday, July 9th. Evercore ISI lifted their price target on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research note on Tuesday. Finally, Raymond James Financial raised Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a report on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and a consensus price target of $48.89.

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.