Proquility Private Wealth Partners LLC Reduces Position in Truist Financial Co. (NYSE:TFC)

Proquility Private Wealth Partners LLC lessened its holdings in Truist Financial Co. (NYSE:TFC) by 1.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 99,708 shares of the insurance provider’s stock after selling 988 shares during the period. Truist Financial accounts for approximately 1.4% of Proquility Private Wealth Partners LLC’s holdings, making the stock its 25th biggest position. Proquility Private Wealth Partners LLC’s holdings in Truist Financial were worth $4,325,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Tradewinds LLC. lifted its stake in shares of Truist Financial by 0.5% in the 3rd quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock valued at $1,904,000 after purchasing an additional 222 shares during the last quarter. Koshinski Asset Management Inc. grew its stake in shares of Truist Financial by 2.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock worth $470,000 after acquiring an additional 225 shares during the last quarter. Aaron Wealth Advisors LLC raised its stake in Truist Financial by 3.0% in the 4th quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock worth $335,000 after acquiring an additional 227 shares during the last quarter. Ignite Planners LLC increased its holdings in Truist Financial by 1.4% in the 4th quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock worth $772,000 after buying an additional 246 shares during the period. Finally, Burkett Financial Services LLC raised its holdings in shares of Truist Financial by 26.8% during the third quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 253 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In related news, CEO William H. Rogers, Jr. purchased 34,180 shares of Truist Financial 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 transaction, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction 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 transaction, 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 position. The disclosure for this sale can be found here. 0.17% of the stock is owned by company insiders.

Truist Financial Trading Up 0.5 %

Shares of NYSE TFC opened at $47.90 on Wednesday. Truist Financial Co. has a 52 week low of $34.23 and a 52 week high of $49.06. The business has a 50 day simple moving average of $45.43 and a 200 day simple moving average of $43.66. The stock has a market cap of $63.58 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 1.84 and a beta of 1.08. 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 released its quarterly earnings data 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. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5,047,370 billion. During the same period in the prior year, the company posted $0.81 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. On average, research analysts predict that Truist Financial Co. will post 3.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

TFC has been the topic of a number of analyst reports. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company raised their price target on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Morgan Stanley boosted their price objective on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday. Citigroup increased their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Finally, Barclays boosted their target price on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus target price 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.