Truist Financial Co. (NYSE:TFC) Stock Holdings Increased by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC grew its position in shares of Truist Financial Co. (NYSE:TFC) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,712 shares of the insurance provider’s stock after buying an additional 227 shares during the period. Aaron Wealth Advisors LLC’s holdings in Truist Financial were worth $335,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TFC. Financial Management Professionals Inc. boosted its holdings in Truist Financial by 12.8% in the fourth quarter. Financial Management Professionals Inc. now owns 10,693 shares of the insurance provider’s stock worth $464,000 after purchasing an additional 1,211 shares during the period. Ameritas Advisory Services LLC acquired a new position in Truist Financial during the 4th quarter valued at approximately $251,000. Verity & Verity LLC grew its stake in Truist Financial by 9.6% during the 4th quarter. Verity & Verity LLC now owns 425,535 shares of the insurance provider’s stock worth $18,460,000 after buying an additional 37,396 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in Truist Financial by 14.0% in the fourth quarter. Arkadios Wealth Advisors now owns 126,549 shares of the insurance provider’s stock valued at $5,490,000 after buying an additional 15,501 shares during the last quarter. Finally, Folger Nolan Fleming Douglas Capital Management Inc. boosted its holdings in shares of Truist Financial by 9.0% during the fourth quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 8,485 shares of the insurance provider’s stock valued at $368,000 after acquiring an additional 700 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William H. Rogers, Jr. bought 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The stock was purchased at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the transaction, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were 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 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 disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

TFC has been the subject of a number of analyst reports. Royal Bank of Canada boosted their target price on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. UBS Group raised their target price on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. lifted their target price on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Finally, Citigroup upped their price target on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $49.95.

Truist Financial Trading Up 5.9 %

NYSE:TFC opened at $47.63 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $63.23 billion, a P/E ratio of -33.31, a P/E/G ratio of 1.67 and a beta of 1.08. The stock’s 50 day moving average price is $45.40 and its 200 day moving average price is $43.60. 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 results on Friday, January 17th. The insurance provider reported $0.91 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 analyst estimates of $5,047,370 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. Truist Financial’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.81 EPS. On average, research analysts forecast that Truist Financial Co. will post 3.61 EPS 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.