Truist Financial Co. (NYSE:TFC) Shares Acquired by Dakota Wealth Management

Dakota Wealth Management boosted its position in shares of Truist Financial Co. (NYSE:TFC) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,371 shares of the insurance provider’s stock after purchasing an additional 1,378 shares during the period. Dakota Wealth Management’s holdings in Truist Financial were worth $6,566,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TFC. Eads & Heald Wealth Management boosted its stake in Truist Financial by 28.0% during the 4th quarter. Eads & Heald Wealth Management now owns 17,939 shares of the insurance provider’s stock valued at $778,000 after acquiring an additional 3,925 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Truist Financial by 0.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 436,867 shares of the insurance provider’s stock valued at $18,951,000 after acquiring an additional 1,423 shares during the last quarter. Genesis Private Wealth LLC bought a new position in Truist Financial during the 4th quarter valued at $228,000. Simon Quick Advisors LLC boosted its stake in Truist Financial by 14.6% during the 4th quarter. Simon Quick Advisors LLC now owns 5,466 shares of the insurance provider’s stock valued at $237,000 after acquiring an additional 697 shares during the last quarter. Finally, Atomi Financial Group Inc. boosted its stake in Truist Financial by 9.2% during the 4th quarter. Atomi Financial Group Inc. now owns 17,120 shares of the insurance provider’s stock valued at $743,000 after acquiring an additional 1,444 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on TFC. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Raymond James raised their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Compass Point raised their price target on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Stephens raised their price target on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Truist Financial Stock Up 0.5 %

Truist Financial stock opened at $47.90 on Wednesday. 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 current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average price is $45.43 and its two-hundred day moving average price is $43.66. Truist Financial Co. has a 52 week low of $34.23 and a 52 week high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 EPS. On average, analysts expect that Truist Financial Co. will post 3.9 EPS for the current fiscal year.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was purchased at an average cost 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 owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

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.