LVW Advisors LLC Sells 6,279 Shares of Truist Financial Co. (NYSE:TFC)

LVW Advisors LLC decreased its holdings in shares of Truist Financial Co. (NYSE:TFC) by 29.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,841 shares of the insurance provider’s stock after selling 6,279 shares during the quarter. LVW Advisors LLC’s holdings in Truist Financial were worth $644,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Seven Eight Capital LP bought a new stake in shares of Truist Financial in the 2nd quarter valued at about $434,000. Intech Investment Management LLC boosted its position in shares of Truist Financial by 63.3% during the second quarter. Intech Investment Management LLC now owns 14,415 shares of the insurance provider’s stock worth $560,000 after purchasing an additional 5,585 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of Truist Financial by 31.7% in the 2nd quarter. Benjamin Edwards Inc. now owns 1,826 shares of the insurance provider’s stock valued at $71,000 after buying an additional 439 shares in the last quarter. Pacer Advisors Inc. raised its stake in Truist Financial by 4.6% during the 2nd quarter. Pacer Advisors Inc. now owns 95,577 shares of the insurance provider’s stock worth $3,713,000 after buying an additional 4,192 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in Truist Financial by 4.8% during the second quarter. ProShare Advisors LLC now owns 283,534 shares of the insurance provider’s stock worth $11,015,000 after acquiring an additional 13,092 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TFC shares. Stephens reaffirmed an “overweight” rating and set a $54.00 price target on shares of Truist Financial in a research report on Thursday, January 2nd. The Goldman Sachs Group lifted their price target on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods increased their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their target price on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Finally, UBS Group lifted their price target on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $49.95.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction 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 transaction, the director now owns 11,246 shares in the company, valued at $519,565.20. This trade represents a 30.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were bought at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the transaction, 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 position. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Truist Financial Price Performance

NYSE:TFC opened at $47.63 on Tuesday. Truist Financial Co. has a one year low of $34.23 and a one year high of $49.06. The company has a market cap 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 firm’s fifty day moving average price is $45.40 and its two-hundred day moving average price is $43.60. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5,047,370 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the business posted $0.81 earnings per share. Equities analysts expect that Truist Financial Co. will post 3.61 earnings per share for the current year.

Truist Financial 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.