Truist Financial Co. (NYSE:TFC) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its holdings in Truist Financial Co. (NYSE:TFC) by 0.3% during the fourth quarter, HoldingsChannel reports. The firm owned 969,022 shares of the insurance provider’s stock after buying an additional 3,378 shares during the period. Janney Montgomery Scott LLC’s holdings in Truist Financial were worth $42,036,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. SG Americas Securities LLC grew its holdings in shares of Truist Financial by 1,028.0% during the fourth quarter. SG Americas Securities LLC now owns 456,816 shares of the insurance provider’s stock worth $19,817,000 after buying an additional 416,317 shares during the last quarter. Daymark Wealth Partners LLC grew its stake in shares of Truist Financial by 4.4% in the 4th quarter. Daymark Wealth Partners LLC now owns 7,231 shares of the insurance provider’s stock valued at $314,000 after purchasing an additional 305 shares during the last quarter. Global Trust Asset Management LLC increased its holdings in shares of Truist Financial by 1,360.4% in the fourth quarter. Global Trust Asset Management LLC now owns 3,651 shares of the insurance provider’s stock valued at $158,000 after purchasing an additional 3,401 shares during the period. Dakota Wealth Management raised its stake in shares of Truist Financial by 0.9% during the fourth quarter. Dakota Wealth Management now owns 151,371 shares of the insurance provider’s stock worth $6,566,000 after purchasing an additional 1,378 shares during the last quarter. Finally, Eads & Heald Wealth Management lifted its holdings in shares of Truist Financial by 28.0% during the fourth quarter. Eads & Heald Wealth Management now owns 17,939 shares of the insurance provider’s stock worth $778,000 after purchasing an additional 3,925 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Truist Financial Stock Performance

NYSE TFC opened at $46.72 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a fifty-two week low of $34.23 and a fifty-two week high of $49.06. The business has a fifty day moving average of $45.46 and a 200-day moving average of $43.75. The stock has a market cap of $62.03 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 1.70 and a beta of 1.08.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TFC shares. Barclays upped their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. The Goldman Sachs Group raised their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Compass Point boosted their target price on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. increased their price objective on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

Truist Financial 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.