Financial Partners Group LLC Has $1.53 Million Stock Position in Truist Financial Co. (NYSE:TFC)

Financial Partners Group LLC lessened its holdings in Truist Financial Co. (NYSE:TFC) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,365 shares of the insurance provider’s stock after selling 647 shares during the period. Financial Partners Group LLC’s holdings in Truist Financial were worth $1,534,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Bangor Savings Bank raised its holdings in shares of Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares during the last quarter. Valley Wealth Managers Inc. purchased a new stake in Truist Financial in the 3rd quarter valued at about $26,000. MidAtlantic Capital Management Inc. bought a new position in shares of Truist Financial during the 3rd quarter worth approximately $32,000. Fortitude Family Office LLC boosted its stake in shares of 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 buying an additional 678 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of Truist Financial in the third quarter valued at approximately $45,000. Institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Piper Sandler lifted their price target on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods lifted their target price on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday. Compass Point increased their price target on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Finally, Raymond James increased their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Trading Down 0.6 %

Shares of Truist Financial stock opened at $46.72 on Friday. The company’s 50-day moving average price is $45.46 and its 200-day moving average price 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 Co. has a 12-month low of $34.23 and a 12-month high of $49.06. The company has a market cap of $62.03 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 1.67 and a beta of 1.08.

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, topping the consensus estimate of $0.88 by $0.03. The business 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 for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.81 EPS. On average, equities analysts expect that Truist Financial Co. will post 3.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, 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 transaction, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the company’s stock in a transaction on Monday, November 25th. The shares were purchased at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the purchase, the chief executive officer now owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is owned by company insiders.

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.