Wealth Enhancement Advisory Services LLC Increases Stake in Truist Financial Co. (NYSE:TFC)

Wealth Enhancement Advisory Services LLC raised its stake in Truist Financial Co. (NYSE:TFC - Free Report) by 73.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 853,013 shares of the insurance provider's stock after purchasing an additional 360,227 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.07% of Truist Financial worth $37,004,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Lansforsakringar Fondforvaltning AB publ bought a new stake in Truist Financial in the fourth quarter valued at approximately $446,000. Anchor Pointe Wealth Management LLC bought a new stake in Truist Financial in the fourth quarter valued at approximately $215,000. Aegis Wealth Management LLC bought a new stake in Truist Financial in the fourth quarter valued at approximately $316,000. Alpha Wealth Funds LLC bought a new stake in Truist Financial in the fourth quarter valued at approximately $347,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Truist Financial during the fourth quarter valued at approximately $36,749,000. Institutional investors own 71.28% of the company's stock.

Wall Street Analysts Forecast Growth

TFC has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their target price on Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Robert W. Baird upgraded Truist Financial from a "neutral" rating to an "outperform" rating and upped their target price for the company from $48.00 to $52.00 in a report on Wednesday, March 5th. Citigroup decreased their target price on Truist Financial from $51.00 to $44.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Piper Sandler decreased their target price on Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Finally, Stephens decreased their target price on Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Nine equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $47.83.

Truist Financial Stock Up 1.0%

TFC traded up $0.40 during trading on Tuesday, reaching $39.63. The stock had a trading volume of 9,569,069 shares, compared to its average volume of 8,285,408. Truist Financial Co. has a one year low of $33.56 and a one year high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock's 50 day moving average is $38.48 and its two-hundred day moving average is $42.78. The company has a market capitalization of $51.90 billion, a price-to-earnings ratio of 11.90, a P/E/G ratio of 1.63 and a beta of 0.83.

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

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.25%. The ex-dividend date was Friday, May 9th. Truist Financial's dividend payout ratio (DPR) is 61.36%.

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.