Good Steward Wealth Advisors LLC Sells 4,941 Shares of Truist Financial Corporation $TFC

Good Steward Wealth Advisors LLC trimmed its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 49.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,051 shares of the insurance provider’s stock after selling 4,941 shares during the period. Good Steward Wealth Advisors LLC’s holdings in Truist Financial were worth $217,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Amundi raised its stake in shares of Truist Financial by 4.6% during the first quarter. Amundi now owns 24,774,656 shares of the insurance provider’s stock worth $1,019,477,000 after buying an additional 1,091,311 shares during the last quarter. Invesco Ltd. raised its stake in shares of Truist Financial by 32.0% during the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock worth $540,723,000 after buying an additional 3,188,999 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Truist Financial by 21.8% during the first quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider’s stock worth $495,509,000 after buying an additional 2,158,639 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Truist Financial by 13.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,738,289 shares of the insurance provider’s stock worth $465,827,000 after buying an additional 1,307,252 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Truist Financial by 0.9% during the first quarter. Federated Hermes Inc. now owns 9,511,639 shares of the insurance provider’s stock worth $391,404,000 after buying an additional 89,373 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction 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 completion of the transaction, the insider owned 500 shares in the company, valued at approximately $22,595. This represents a 96.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TFC. Morgan Stanley reissued a “mixed” rating on shares of Truist Financial in a research note on Monday, July 21st. Keefe, Bruyette & Woods downgraded shares of 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. Raymond James Financial raised shares of Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research note on Tuesday, July 8th. Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and upped their target price for the company from $44.00 to $55.00 in a research note on Thursday, June 26th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $47.00 target price on shares of Truist Financial in a research note on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and an average price target of $48.47.

Truist Financial Stock Down 0.2%

Truist Financial stock opened at $45.22 on Friday. The stock has a market capitalization of $58.30 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.69 and a beta of 0.88. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75. The company has a 50 day moving average of $45.02 and a 200-day moving average of $41.72.

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

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Friday, August 8th. Truist Financial’s dividend payout ratio is 56.68%.

About Truist Financial

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.