Truist Financial Co. (NYSE:TFC) Stock Holdings Lowered by LifePlan Financial LLC

LifePlan Financial LLC trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,200 shares of the insurance provider’s stock after selling 277 shares during the period. LifePlan Financial LLC’s holdings in Truist Financial were worth $269,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bangor Savings Bank boosted its stake in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 272 shares in the last quarter. Valley Wealth Managers Inc. purchased a new stake in shares of Truist Financial during the third quarter valued at $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Truist Financial in the 3rd quarter valued at $32,000. Fortitude Family Office LLC increased its stake in Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in Truist Financial during the 3rd quarter worth about $45,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. upped their price target on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, January 7th. UBS Group upped their target price on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada raised their price target on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $50.37.

Insider Buying and Selling at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the firm’s stock in a transaction dated 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 acquisition, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. This represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Truist Financial Trading Up 5.9 %

Shares of TFC stock opened at $47.63 on Tuesday. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06. The company has a market cap of $63.23 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 1.86 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $45.43 and its two-hundred day moving average is $43.66.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5,047,370 billion. During the same period last year, the business posted $0.81 EPS. Truist Financial’s revenue was up 3.4% compared to the same quarter last year. Equities analysts predict that Truist Financial Co. will post 3.87 EPS for the current year.

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.