Ballentine Partners LLC Increases Stake in Truist Financial Co. (NYSE:TFC)

Ballentine Partners LLC increased its position in shares of Truist Financial Co. (NYSE:TFC) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,804 shares of the insurance provider’s stock after buying an additional 418 shares during the period. Ballentine Partners LLC’s holdings in Truist Financial were worth $1,163,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Tradewinds LLC. increased its stake in shares of Truist Financial by 0.5% during the third quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock valued at $1,904,000 after buying an additional 222 shares during the period. Koshinski Asset Management Inc. increased its stake in shares of Truist Financial by 2.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock valued at $470,000 after buying an additional 225 shares during the period. Aaron Wealth Advisors LLC increased its stake in shares of Truist Financial by 3.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock valued at $335,000 after buying an additional 227 shares during the period. Ignite Planners LLC increased its stake in shares of Truist Financial by 1.4% during the fourth quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock valued at $772,000 after buying an additional 246 shares during the period. Finally, Burkett Financial Services LLC increased its stake in shares of Truist Financial by 26.8% during the third quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock valued at $51,000 after buying an additional 253 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Up 0.5 %

Shares of NYSE:TFC opened at $47.90 on Wednesday. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06. The company has a market capitalization of $63.58 billion, a PE ratio of 14.38, a PEG ratio of 1.86 and a beta of 1.08. The business has a 50 day moving average of $45.43 and a two-hundred day moving average of $43.66. 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 (NYSE:TFC) last announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5,047,370 billion. During the same period in the previous year, the company posted $0.81 earnings per share. Truist Financial’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, analysts forecast that Truist Financial Co. will post 3.87 EPS for the current year.

Analyst Upgrades and Downgrades

TFC has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Stephens lifted their target price on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Wells Fargo & Company lifted their target price on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Eleven research 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. According to data from MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the transaction, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. This represents a 30.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO William H. Rogers, Jr. bought 34,180 shares of Truist Financial stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the purchase, the chief executive officer now owns 691,451 shares in the company, valued at approximately $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 corporate insiders.

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.