Occidental Asset Management LLC Has $209,000 Stake in Truist Financial Co. (NYSE:TFC)

Occidental Asset Management LLC cut its stake in shares of Truist Financial Co. (NYSE:TFC) by 19.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,660 shares of the insurance provider’s stock after selling 1,331 shares during the period. Occidental Asset Management LLC’s holdings in Truist Financial were worth $209,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Truist Financial by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock valued at $3,355,141,000 after acquiring an additional 365,871 shares in the last quarter. State Street Corp grew its position in shares of Truist Financial by 1.8% in the second quarter. State Street Corp now owns 59,824,259 shares of the insurance provider’s stock valued at $1,815,666,000 after purchasing an additional 1,056,703 shares during the last quarter. Geode Capital Management LLC boosted its stake in Truist Financial by 1.4% during the 1st quarter. Geode Capital Management LLC now owns 23,931,465 shares of the insurance provider’s stock valued at $814,557,000 after purchasing an additional 332,642 shares during the period. Moneta Group Investment Advisors LLC increased its position in Truist Financial by 12,034.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock worth $881,700,000 after buying an additional 20,321,500 shares during the period. Finally, Morgan Stanley boosted its position in shares of Truist Financial by 32.6% in the fourth quarter. Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock valued at $667,443,000 after acquiring an additional 3,813,439 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of TFC traded up $0.39 during trading hours on Friday, hitting $38.98. 8,405,594 shares of the company were exchanged, compared to its average volume of 9,941,998. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. The company has a market cap of $52.02 billion, a price-to-earnings ratio of -36.09, a P/E/G ratio of 1.62 and a beta of 1.07. The firm’s fifty day moving average is $36.47 and its 200 day moving average is $33.46. Truist Financial Co. has a fifty-two week low of $25.56 and a fifty-two week high of $39.29.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same quarter last year, the business posted $1.30 EPS. On average, equities analysts anticipate that Truist Financial Co. will post 3.39 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.34%. The ex-dividend date of this dividend was Thursday, February 8th. Truist Financial’s payout ratio is -192.59%.

Insiders Place Their Bets

In other 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 transaction 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 SEC, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. TheStreet cut shares of Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. UBS Group increased their target price on Truist Financial from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Barclays increased their price objective on Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Odeon Capital Group raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 price target on the stock in a research report on Thursday, December 14th. Finally, Stephens upgraded shares of Truist Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $41.00 to $43.00 in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $40.30.

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.