St. Johns Investment Management Company LLC Sells 294 Shares of Truist Financial Co. (NYSE:TFC)

St. Johns Investment Management Company LLC decreased its position in shares of Truist Financial Co. (NYSE:TFC) by 0.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 36,614 shares of the insurance provider’s stock after selling 294 shares during the quarter. St. Johns Investment Management Company LLC’s holdings in Truist Financial were worth $1,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC lifted its position in shares of Truist Financial by 63.3% during the 2nd quarter. Intech Investment Management LLC now owns 14,415 shares of the insurance provider’s stock valued at $560,000 after acquiring an additional 5,585 shares during the period. Evergreen Capital Management LLC lifted its position in Truist Financial by 8.1% during the second quarter. Evergreen Capital Management LLC now owns 14,228 shares of the insurance provider’s stock worth $553,000 after purchasing an additional 1,063 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Truist Financial by 60.5% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 255,640 shares of the insurance provider’s stock worth $9,932,000 after buying an additional 96,410 shares in the last quarter. AXA S.A. raised its position in shares of Truist Financial by 24.3% in the 2nd quarter. AXA S.A. now owns 112,178 shares of the insurance provider’s stock valued at $4,358,000 after buying an additional 21,907 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Truist Financial by 16.7% in the 2nd quarter. AQR Capital Management LLC now owns 878,298 shares of the insurance provider’s stock valued at $33,560,000 after buying an additional 125,385 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of the 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 sale, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, 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 position. The disclosure for this purchase can be found here. 0.17% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on TFC shares. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Tuesday, January 7th. Citigroup boosted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Compass Point increased their price target on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods boosted their price objective on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, The Goldman Sachs Group lifted their target price on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $46.72 on Friday. Truist Financial Co. has a 52 week low of $34.23 and a 52 week high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average price of $45.46 and a 200-day moving average price of $43.75. The company has a market cap of $62.03 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates 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. Equities analysts anticipate that Truist Financial Co. will post 3.95 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.