Wealthcare Advisory Partners LLC Sells 22,686 Shares of Truist Financial Co. (NYSE:TFC)

Wealthcare Advisory Partners LLC trimmed its stake in Truist Financial Co. (NYSE:TFC - Free Report) by 9.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 230,704 shares of the insurance provider's stock after selling 22,686 shares during the quarter. Wealthcare Advisory Partners LLC's holdings in Truist Financial were worth $9,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in TFC. FWG Holdings LLC boosted its stake in shares of Truist Financial by 4.3% during the 4th quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider's stock valued at $267,000 after buying an additional 234 shares during the period. Avestar Capital LLC increased its stake in shares of Truist Financial by 4.1% in the fourth quarter. Avestar Capital LLC now owns 6,299 shares of the insurance provider's stock worth $273,000 after acquiring an additional 250 shares during the last quarter. Pathway Financial Advisors LLC raised its holdings in shares of Truist Financial by 2.2% during the fourth quarter. Pathway Financial Advisors LLC now owns 12,124 shares of the insurance provider's stock worth $526,000 after acquiring an additional 260 shares in the last quarter. Nwam LLC boosted its position in Truist Financial by 3.2% during the fourth quarter. Nwam LLC now owns 8,395 shares of the insurance provider's stock valued at $364,000 after purchasing an additional 263 shares during the last quarter. Finally, Wealth Quarterback LLC grew its stake in Truist Financial by 1.8% in the fourth quarter. Wealth Quarterback LLC now owns 15,287 shares of the insurance provider's stock valued at $663,000 after purchasing an additional 266 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TFC shares. Keefe, Bruyette & Woods cut their price target on Truist Financial from $53.00 to $47.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Baird R W raised Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Barclays cut their target price on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Morgan Stanley decreased their price target on shares of Truist Financial from $50.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Truist Financial has a consensus rating of "Moderate Buy" and an average target price of $47.83.

Truist Financial Trading Up 0.8%

NYSE TFC traded up $0.30 during trading hours on Tuesday, hitting $40.75. The company's stock had a trading volume of 4,643,480 shares, compared to its average volume of 8,284,724. Truist Financial Co. has a twelve month low of $33.56 and a twelve month high of $49.06. The firm has a market capitalization of $53.37 billion, a P/E ratio of 12.24, a PEG ratio of 1.63 and a beta of 0.84. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a fifty day moving average of $38.40 and a 200 day moving average of $42.56.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting analysts' consensus estimates of $0.87. The company had revenue of $4.95 billion during the quarter, compared to analysts' expectations of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same period in the prior year, the business posted $0.90 EPS. Equities research analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.10%. Truist Financial's dividend payout ratio (DPR) is presently 61.36%.

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.