Diversify Advisory Services LLC Purchases New Position in Truist Financial Co. (NYSE:TFC)

Diversify Advisory Services LLC bought a new stake in Truist Financial Co. (NYSE:TFC) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 8,749 shares of the insurance provider’s stock, valued at approximately $374,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Truist Financial by 48.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock valued at $129,000 after purchasing an additional 971 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Truist Financial by 3.5% in the third 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 boosted its stake in shares of Truist Financial by 101.6% during the 3rd quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock worth $7,920,000 after acquiring an additional 93,322 shares in the last quarter. Boston Common Asset Management LLC increased its holdings in shares of Truist Financial by 66.4% during the 3rd 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 increased its holdings in shares of Truist Financial by 10.7% during the 3rd 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 last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Truist Financial

In other news, CEO William H. Rogers, Jr. purchased 34,180 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the acquisition, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now directly owns 11,246 shares in the company, valued at $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on TFC. Morgan Stanley upped their target price on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday. 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. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Wells Fargo & Company upped their price target on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Piper Sandler lifted their price objective on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Stock Performance

NYSE:TFC opened at $47.01 on Thursday. The firm has a market capitalization of $62.41 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.84 and a beta of 1.08. 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 50-day moving average price of $45.45 and a 200 day moving average price of $43.73.

Truist Financial (NYSE:TFC) last issued its 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 business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the firm posted $0.81 EPS. Research analysts anticipate that Truist Financial Co. will post 3.9 earnings per share for the current fiscal year.

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.