1834 Investment Advisors Co. Sells 11,801 Shares of Truist Financial Co. (NYSE:TFC)

1834 Investment Advisors Co. trimmed its holdings in Truist Financial Co. (NYSE:TFC) by 5.7% in the 4th quarter, HoldingsChannel reports. The firm owned 195,897 shares of the insurance provider’s stock after selling 11,801 shares during the quarter. Truist Financial makes up approximately 1.1% of 1834 Investment Advisors Co.’s portfolio, making the stock its 22nd largest holding. 1834 Investment Advisors Co.’s holdings in Truist Financial were worth $8,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its stake in Truist Financial by 4.6% during the third quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after acquiring an additional 2,720,223 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Truist Financial by 1.7% during the third quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock valued at $1,169,350,000 after purchasing an additional 456,412 shares in the last quarter. Legal & General Group Plc grew its position in shares of Truist Financial by 1.0% during the second quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock valued at $401,663,000 after purchasing an additional 103,565 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Truist Financial by 3.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,431,037 shares of the insurance provider’s stock worth $403,365,000 after purchasing an additional 288,306 shares during the last quarter. Finally, FMR LLC boosted its stake in Truist Financial by 10.6% during the third quarter. FMR LLC now owns 5,003,106 shares of the insurance provider’s stock valued at $213,983,000 after buying an additional 478,886 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Royal Bank of Canada boosted their target price 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. The Goldman Sachs Group increased their price target on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Piper Sandler boosted 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. Finally, Stephens raised their price objective on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $50.79.

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $46.96 on Friday. The firm has a 50 day moving average of $45.48 and a 200 day moving average of $43.83. 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 company has a market capitalization of $62.34 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. Truist Financial Co. has a 52 week low of $34.23 and a 52 week high of $49.06.

Truist Financial (NYSE:TFC) last released 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. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5,047,370 billion. During the same period in the previous year, the company posted $0.81 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, sell-side analysts predict that Truist Financial Co. will post 3.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Truist Financial

In related news, 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 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 at this link. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the stock in a transaction on Monday, November 25th. The stock was acquired 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 owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Truist Financial Company 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.