Truist Financial Co. (NYSE:TFC) Shares Purchased by Jamison Private Wealth Management Inc.

Jamison Private Wealth Management Inc. raised its holdings in Truist Financial Co. (NYSE:TFC) by 5.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 142,516 shares of the insurance provider’s stock after acquiring an additional 7,964 shares during the period. Jamison Private Wealth Management Inc.’s holdings in Truist Financial were worth $6,182,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in TFC. Thurston Springer Miller Herd & Titak Inc. raised its stake in Truist Financial by 48.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock worth $129,000 after purchasing an additional 971 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Truist Financial by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after buying an additional 50,637 shares during the last quarter. Cadence Bank raised its position in shares of Truist Financial by 101.6% in the 3rd quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock worth $7,920,000 after buying an additional 93,322 shares during the period. Boston Common Asset Management LLC boosted its holdings in Truist Financial by 66.4% in the third quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock valued at $6,609,000 after acquiring an additional 61,683 shares during the last quarter. Finally, Independent Advisor Alliance grew its position in Truist Financial by 10.7% during the third quarter. Independent Advisor Alliance now owns 282,607 shares of the insurance provider’s stock valued at $12,087,000 after acquiring an additional 27,408 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling at Truist Financial

In related news, CEO William H. Rogers, Jr. bought 34,180 shares of the stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was 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 directly owns 11,246 shares in the company, valued at approximately $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 insiders.

Truist Financial Stock Performance

Shares of TFC stock opened at $46.96 on Friday. The stock has a market capitalization of $62.34 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 1.67 and a beta of 1.08. Truist Financial Co. has a one year low of $34.23 and a one year high of $49.06. The company’s 50-day simple moving average is $45.48 and its 200-day simple moving average 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 released its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5,047,370 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. Truist Financial’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 EPS. Equities analysts anticipate 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 recently commented on TFC shares. Morgan Stanley raised their price objective on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Barclays lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Citigroup increased their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Piper Sandler raised their target price on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Eleven equities research 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 MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and a consensus price target of $50.79.

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.