Prevail Innovative Wealth Advisors LLC Purchases 13,739 Shares of Truist Financial Corporation $TFC

Prevail Innovative Wealth Advisors LLC boosted its position in shares of Truist Financial Corporation (NYSE:TFC) by 57.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,454 shares of the insurance provider’s stock after buying an additional 13,739 shares during the period. Prevail Innovative Wealth Advisors LLC’s holdings in Truist Financial were worth $1,712,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Valley Wealth Managers Inc. bought a new position in Truist Financial in the third quarter valued at approximately $28,000. Darwin Wealth Management LLC lifted its stake in Truist Financial by 631.6% during the third quarter. Darwin Wealth Management LLC now owns 695 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 600 shares during the last quarter. Capital A Wealth Management LLC boosted its holdings in shares of Truist Financial by 1,189.5% in the 2nd quarter. Capital A Wealth Management LLC now owns 735 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 678 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of Truist Financial in the 2nd quarter valued at $36,000. Finally, Tripletail Wealth Management LLC acquired a new position in shares of Truist Financial during the 3rd quarter worth $37,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Cynthia B. Powell sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $52.49, for a total value of $183,715.00. Following the transaction, the chief accounting officer owned 667 shares in the company, valued at approximately $35,010.83. The trade was a 83.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Baron Maguire sold 13,000 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $50.13, for a total transaction of $651,690.00. Following the sale, the chief financial officer owned 74,323 shares of the company’s stock, valued at approximately $3,725,811.99. This trade represents a 14.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Stock Performance

NYSE:TFC opened at $46.40 on Friday. The stock’s 50-day moving average is $51.01 and its 200-day moving average is $47.70. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $56.19. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The stock has a market cap of $57.96 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 0.79 and a beta of 0.87.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.09). The business had revenue of $4.93 billion for the quarter, compared to the consensus estimate of $5.32 billion. Truist Financial had a net margin of 17.09% and a return on equity of 9.03%. Truist Financial’s revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 EPS. Equities research analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial announced that its Board of Directors has authorized a share buyback program on Tuesday, December 16th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the insurance provider to purchase up to 15.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Friday, February 13th. Truist Financial’s payout ratio is currently 54.59%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TFC shares. Raymond James Financial raised their price objective on Truist Financial from $50.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, January 7th. Weiss Ratings raised shares of Truist Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. Morgan Stanley upgraded shares of Truist Financial from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $56.00 to $69.00 in a research note on Tuesday, February 17th. Barclays lowered shares of Truist Financial from an “equal weight” rating to an “underweight” rating and lifted their price target for the company from $47.00 to $56.00 in a report on Monday, January 5th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $58.00 price objective on shares of Truist Financial in a research note on Tuesday, January 6th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.47.

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.