IVC Wealth Advisors LLC Cuts Stock Position in Truist Financial Co. (NYSE:TFC)

IVC Wealth Advisors LLC trimmed its position in shares of Truist Financial Co. (NYSE:TFC) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,273 shares of the insurance provider’s stock after selling 566 shares during the period. Truist Financial comprises 1.2% of IVC Wealth Advisors LLC’s investment portfolio, making the stock its 16th largest position. IVC Wealth Advisors LLC’s holdings in Truist Financial were worth $2,224,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Avior Wealth Management LLC increased its holdings in shares of Truist Financial by 41.8% in the fourth quarter. Avior Wealth Management LLC now owns 6,289 shares of the insurance provider’s stock worth $273,000 after buying an additional 1,855 shares during the period. Mutual Advisors LLC grew its position in Truist Financial by 16.3% during the 4th quarter. Mutual Advisors LLC now owns 36,483 shares of the insurance provider’s stock worth $1,641,000 after acquiring an additional 5,103 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Truist Financial by 0.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 969,022 shares of the insurance provider’s stock worth $42,036,000 after purchasing an additional 3,378 shares during the period. SG Americas Securities LLC lifted its position in Truist Financial by 1,028.0% in the fourth quarter. SG Americas Securities LLC now owns 456,816 shares of the insurance provider’s stock valued at $19,817,000 after purchasing an additional 416,317 shares during the last quarter. Finally, Daymark Wealth Partners LLC boosted its stake in shares of Truist Financial by 4.4% during the fourth 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 period. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 0.6 %

Truist Financial stock opened at $46.72 on Friday. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06. The company has a market capitalization of $62.03 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. The business’s fifty day simple moving average is $45.46 and its two-hundred day simple moving average is $43.75. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last announced its quarterly 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. The company had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5,047,370 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. Truist Financial’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 EPS. As a group, equities analysts predict that Truist Financial Co. will post 3.95 earnings per share for the current fiscal year.

Insider Activity at Truist Financial

In related news, CEO William H. Rogers, Jr. acquired 34,180 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the transaction, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The acquisition 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 stock in a transaction 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 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. 0.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TFC. Morgan Stanley upped their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday. Keefe, Bruyette & Woods increased their target price on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday. Royal Bank of Canada raised their target price on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Raymond James upped their price target on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Barclays lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial presently has an average 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.