West Paces Advisors Inc. Has $128,000 Stake in Truist Financial Co. (NYSE:TFC)

West Paces Advisors Inc. decreased its stake in Truist Financial Co. (NYSE:TFC) by 18.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,478 shares of the insurance provider’s stock after selling 790 shares during the quarter. West Paces Advisors Inc.’s holdings in Truist Financial were worth $128,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of TFC. Fairfield Bush & CO. bought a new position in Truist Financial in the 1st quarter valued at $25,000. OFI Invest Asset Management bought a new position in Truist Financial in the 3rd quarter valued at $26,000. Operose Advisors LLC bought a new position in Truist Financial in the 3rd quarter valued at $31,000. Quarry LP bought a new position in Truist Financial in the 1st quarter valued at $32,000. Finally, Tyler Stone Wealth Management bought a new position in Truist Financial in the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the transaction, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Truist Financial Stock Down 2.9 %

Shares of TFC stock traded down $1.06 on Tuesday, hitting $35.64. 12,902,671 shares of the stock were exchanged, compared to its average volume of 9,731,204. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $47.56 billion, a P/E ratio of -33.10, a price-to-earnings-growth ratio of 2.27 and a beta of 1.08. The business has a 50-day moving average of $36.64 and a 200 day moving average of $34.31. 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 posted its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.13. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the prior year, the firm earned $1.30 earnings per share. Equities analysts anticipate that Truist Financial Co. will post 3.33 EPS for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 annualized dividend and a yield of 5.84%. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.

Analyst Upgrades and Downgrades

TFC has been the subject of several research analyst reports. StockNews.com downgraded Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. Wells Fargo & Company upped their price objective on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Raymond James upped their price objective on Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Royal Bank of Canada upped their price objective on Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Finally, HSBC upped their price objective on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $41.47.

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.