Truist Financial Co. (NYSE:TFC) Shares Sold by Smith Chas P & Associates PA Cpas

Smith Chas P & Associates PA Cpas lessened its position in shares of Truist Financial Co. (NYSE:TFC) by 4.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 25,929 shares of the insurance provider’s stock after selling 1,293 shares during the quarter. Smith Chas P & Associates PA Cpas’ holdings in Truist Financial were worth $1,125,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. AXA S.A. boosted its holdings in shares of Truist Financial by 24.3% in the 2nd quarter. AXA S.A. now owns 112,178 shares of the insurance provider’s stock valued at $4,358,000 after buying an additional 21,907 shares during the period. AQR Capital Management LLC boosted its stake in Truist Financial by 16.7% in the second quarter. AQR Capital Management LLC now owns 878,298 shares of the insurance provider’s stock valued at $33,560,000 after acquiring an additional 125,385 shares during the period. MBB Public Markets I LLC bought a new position in shares of Truist Financial during the second quarter valued at approximately $3,736,000. Mackenzie Financial Corp raised its position in shares of Truist Financial by 52.2% during the 2nd quarter. Mackenzie Financial Corp now owns 299,914 shares of the insurance provider’s stock worth $11,652,000 after purchasing an additional 102,823 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Truist Financial by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock worth $401,663,000 after purchasing an additional 103,565 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Up 0.4 %

Truist Financial stock opened at $46.96 on Friday. The firm has a market cap of $62.34 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. Truist Financial Co. has a 1 year low of $34.23 and a 1 year high of $49.06. The firm’s 50 day moving average price is $45.48 and its two-hundred day moving average price is $43.83. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5,047,370 billion. During the same period in the previous year, the firm posted $0.81 EPS. The company’s quarterly revenue was up 3.4% on a year-over-year basis. On average, research analysts predict that Truist Financial Co. will post 3.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TFC has been the subject of a number of recent research reports. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Raymond James boosted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Morgan Stanley raised their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group boosted their price objective on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Insiders Place Their Bets

In other news, CEO William H. Rogers, Jr. acquired 34,180 shares of the stock in a transaction on Monday, November 25th. The shares were purchased at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, the chief executive officer now owns 691,451 shares in the company, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the sale, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. The trade was a 30.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

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.