WCG Wealth Advisors LLC Purchases Shares of 15,269 Truist Financial Corporation $TFC

WCG Wealth Advisors LLC purchased a new stake in shares of Truist Financial Corporation (NYSE:TFC) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 15,269 shares of the insurance provider’s stock, valued at approximately $751,000.

Several other hedge funds have also added to or reduced their stakes in TFC. Brighton Jones LLC lifted its holdings in Truist Financial by 148.5% during the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after purchasing an additional 14,093 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Truist Financial by 39.5% during the first quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock worth $4,575,000 after buying an additional 31,454 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Truist Financial during the second quarter worth $575,000. AXA S.A. lifted its holdings in shares of Truist Financial by 23.1% during the second quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock worth $1,126,000 after buying an additional 4,921 shares in the last quarter. Finally, Main Street Financial Solutions LLC lifted its holdings in shares of Truist Financial by 20.1% during the second quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock worth $292,000 after buying an additional 1,134 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Up 0.1%

Shares of NYSE TFC opened at $49.24 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a 52 week low of $38.83 and a 52 week high of $56.19. The stock has a market capitalization of $61.35 billion, a P/E ratio of 12.22, a PEG ratio of 0.84 and a beta of 0.89. The stock’s fifty day moving average is $48.63 and its 200 day moving average is $48.97.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.18 billion. During the same quarter last year, the business earned $0.87 earnings per share. Truist Financial’s revenue was up 5.0% on a year-over-year basis. Sell-side analysts forecast that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were given a $0.52 dividend. The ex-dividend date was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. Truist Financial’s dividend payout ratio (DPR) is presently 51.61%.

Analyst Ratings Changes

TFC has been the subject of a number of research reports. Jefferies Financial Group reissued a “mixed” rating and set a $45.00 target price on shares of Truist Financial in a report on Friday, April 17th. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 target price for the company. in a report on Friday, May 1st. Morgan Stanley dropped their target price on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, April 20th. JPMorgan Chase & Co. dropped their target price on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Finally, Wall Street Zen upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $55.59.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.