Asio Capital LLC Sells 2,373 Shares of Truist Financial Co. (NYSE:TFC)

Asio Capital LLC cut its position in Truist Financial Co. (NYSE:TFC) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 102,152 shares of the insurance provider’s stock after selling 2,373 shares during the period. Asio Capital LLC’s holdings in Truist Financial were worth $4,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in TFC. AXA S.A. lifted its holdings in Truist Financial by 24.3% during the second quarter. AXA S.A. now owns 112,178 shares of the insurance provider’s stock valued at $4,358,000 after purchasing an additional 21,907 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Truist Financial by 16.7% during 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. MBB Public Markets I LLC bought a new position in Truist Financial in the 2nd quarter worth approximately $3,736,000. Mackenzie Financial Corp grew its stake in Truist Financial by 52.2% in the 2nd quarter. Mackenzie Financial Corp now owns 299,914 shares of the insurance provider’s stock valued at $11,652,000 after buying an additional 102,823 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Truist Financial by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock valued at $401,663,000 after acquiring an additional 103,565 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling at Truist Financial

In other Truist Financial 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 owns 11,246 shares of the company’s stock, valued at $519,565.20. This represents a 30.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average price of $48.56 per share, for a total transaction 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. 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 currently owned by corporate insiders.

Truist Financial Stock Up 0.4 %

Shares of NYSE:TFC opened at $46.96 on Friday. The stock has a market capitalization of $62.34 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. The stock’s 50-day moving average price is $45.48 and its 200-day moving average price is $43.83. 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 Co. has a 12-month low of $34.23 and a 12-month 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 analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5,047,370 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. On average, equities analysts anticipate that Truist Financial Co. will post 3.95 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on TFC. Citigroup lifted their price target on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Keefe, Bruyette & Woods upped their price target on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Stephens upped their target price on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, Royal Bank of Canada boosted their price target on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Eleven investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.79.

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.