CX Institutional Reduces Stock Holdings in Truist Financial Co. (NYSE:TFC)

CX Institutional lowered its stake in shares of Truist Financial Co. (NYSE:TFC) by 4.9% during the 4th quarter, HoldingsChannel reports. The fund owned 8,306 shares of the insurance provider’s stock after selling 428 shares during the period. CX Institutional’s holdings in Truist Financial were worth $360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC lifted its position in shares of Truist Financial by 148.5% during the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after acquiring an additional 14,093 shares in the last quarter. Hengehold Capital Management LLC lifted its position in shares of Truist Financial by 1.1% during the fourth quarter. Hengehold Capital Management LLC now owns 80,838 shares of the insurance provider’s stock worth $3,507,000 after acquiring an additional 905 shares in the last quarter. Cerro Pacific Wealth Advisors LLC lifted its position in shares of Truist Financial by 5.1% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 18,982 shares of the insurance provider’s stock worth $812,000 after acquiring an additional 927 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of Truist Financial by 41.8% during the fourth quarter. Avior Wealth Management LLC now owns 6,289 shares of the insurance provider’s stock worth $273,000 after acquiring an additional 1,855 shares in the last quarter. Finally, Mutual Advisors LLC lifted its position in shares of Truist Financial by 16.3% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

NYSE TFC opened at $46.96 on Monday. The company has a 50-day simple moving average of $45.48 and a two-hundred day simple moving average of $43.87. The company has a quick ratio of 0.83, a current 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 firm has a market cap 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 (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates 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 for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 earnings per share. On average, equities analysts forecast that Truist Financial Co. will post 3.95 EPS for the current year.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction dated 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 sale, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the stock in a transaction on Monday, November 25th. The stock was bought at an average price 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 directly 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 disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TFC has been the topic of several research analyst reports. Wells Fargo & Company upped 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. The Goldman Sachs Group upped their price target on shares of Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Stephens upped their price target on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price target on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Finally, Royal Bank of Canada upped their price target on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Eleven investment 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. According to MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and an average 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.