Sequoia Financial Advisors LLC Has $1.96 Million Holdings in Truist Financial Co. (NYSE:TFC)

Posted by Defense World Staff on Mar 26th, 2023

Sequoia Financial Advisors LLC increased its position in shares of Truist Financial Co. (NYSE:TFC – Get Rating) by 13.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,597 shares of the insurance provider’s stock after acquiring an additional 5,437 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Truist Financial were worth $1,962,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Dynamic Advisor Solutions LLC grew its position in Truist Financial by 1.2% during the third quarter. Dynamic Advisor Solutions LLC now owns 23,403 shares of the insurance provider’s stock valued at $1,019,000 after purchasing an additional 274 shares in the last quarter. National Pension Service grew its position in Truist Financial by 3.6% during the third quarter. National Pension Service now owns 1,992,619 shares of the insurance provider’s stock valued at $87,615,000 after purchasing an additional 69,309 shares in the last quarter. Bailard Inc. grew its position in Truist Financial by 2.4% during the third quarter. Bailard Inc. now owns 48,433 shares of the insurance provider’s stock valued at $2,109,000 after purchasing an additional 1,133 shares in the last quarter. Stephens Inc. AR grew its position in Truist Financial by 6.1% during the third quarter. Stephens Inc. AR now owns 232,952 shares of the insurance provider’s stock valued at $10,143,000 after purchasing an additional 13,348 shares in the last quarter. Finally, Captrust Financial Advisors grew its position in Truist Financial by 21.5% during the second quarter. Captrust Financial Advisors now owns 962,495 shares of the insurance provider’s stock valued at $45,651,000 after purchasing an additional 170,239 shares in the last quarter. Institutional investors and hedge funds own 72.49% of the company’s stock.

Insider Activity at Truist Financial

In related news, insider Hugh S. Cummins III sold 35,229 shares of the company’s stock in a transaction on Friday, January 27th. The shares were sold at an average price of $49.05, for a total transaction of $1,727,982.45. Following the completion of the transaction, the insider now directly owns 307,069 shares in the company, valued at approximately $15,061,734.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Truist Financial news, Director David M. Ratcliffe acquired 13,125 shares of the company’s stock in a transaction dated Friday, March 10th. The stock was bought at an average price of $38.08 per share, for a total transaction of $499,800.00. Following the purchase, the director now owns 39,025 shares in the company, valued at approximately $1,486,072. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Hugh S. Cummins III sold 35,229 shares of the stock in a transaction on Friday, January 27th. The shares were sold at an average price of $49.05, for a total transaction of $1,727,982.45. Following the completion of the transaction, the insider now owns 307,069 shares of the company’s stock, valued at approximately $15,061,734.45. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Keefe, Bruyette & Woods raised shares of Truist Financial from an “underperform” rating to a “market perform” rating and lowered their price objective for the company from $47.00 to $45.00 in a research report on Sunday, March 12th. Morgan Stanley decreased their target price on shares of Truist Financial from $59.00 to $56.00 and set an “equal weight” rating for the company in a research report on Friday, January 20th. Royal Bank of Canada decreased their target price on shares of Truist Financial from $60.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft downgraded shares of Truist Financial from a “buy” rating to a “hold” rating and decreased their target price for the stock from $61.00 to $48.00 in a research report on Friday, January 6th. Finally, TheStreet downgraded shares of Truist Financial from a “b” rating to a “c+” rating in a research report on Friday, March 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $51.25.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $32.89 on Friday. The stock has a market capitalization of $43.68 billion, a price-to-earnings ratio of 7.42, a PEG ratio of 1.36 and a beta of 1.10. Truist Financial Co. has a 1-year low of $28.70 and a 1-year high of $61.10. The firm has a fifty day simple moving average of $44.44 and a 200-day simple moving average of $44.48. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 6.32%. The ex-dividend date was Thursday, February 9th. Truist Financial’s payout ratio is currently 46.95%.

Truist Financial Company Profile

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Truist Financial Corp. is a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. It operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, Insurance Holdings, and Other, Treasury & Corporate.