SYSTM Wealth Solutions LLC Lowers Stake in Truist Financial Co. (NYSE:TFC)

SYSTM Wealth Solutions LLC cut its stake in Truist Financial Co. (NYSE:TFC) by 10.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,759 shares of the insurance provider’s stock after selling 918 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Truist Financial were worth $301,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TFC. Crewe Advisors LLC bought a new position in shares of Truist Financial during the 1st quarter valued at about $27,000. Opal Wealth Advisors LLC bought a new position in Truist Financial during the first quarter valued at approximately $29,000. MFA Wealth Advisors LLC purchased a new position in shares of Truist Financial during the second quarter worth approximately $30,000. Y.D. More Investments Ltd bought a new stake in shares of Truist Financial in the 2nd quarter worth approximately $31,000. Finally, Rise Advisors LLC bought a new position in shares of Truist Financial during the 1st quarter valued at $32,000. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE TFC opened at $42.02 on Thursday. The firm has a market cap of $56.27 billion, a P/E ratio of -31.83, a PEG ratio of 1.95 and a beta of 1.06. Truist Financial Co. has a twelve month low of $26.57 and a twelve month high of $45.31. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average of $42.73 and a 200 day moving average of $39.46.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same period in the prior year, the company posted $0.95 earnings per share. The company’s quarterly revenue was down 15.9% on a year-over-year basis. As a group, research analysts expect that Truist Financial Co. will post 3.55 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.95%. Truist Financial’s payout ratio is -157.58%.

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Barclays lifted their price target on Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Bank of America increased their price objective on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Argus increased their price target on shares of Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, StockNews.com cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Truist Financial presently has a consensus rating of “Hold” and an average target price of $45.45.

Insider Transactions at Truist Financial

In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William H. Rogers, Jr. acquired 57,300 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was acquired at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the purchase, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Truist Financial Company 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.