1834 Investment Advisors Co. Decreases Position in Truist Financial Co. (NYSE:TFC)

1834 Investment Advisors Co. reduced its stake in shares of Truist Financial Co. (NYSE:TFC) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 195,897 shares of the insurance provider’s stock after selling 11,801 shares during the quarter. Truist Financial accounts for 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 SEC filing.

Several other large investors have also recently modified their holdings of TFC. Jamison Private Wealth Management Inc. increased its stake in shares of Truist Financial by 5.9% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 142,516 shares of the insurance provider’s stock worth $6,182,000 after buying an additional 7,964 shares during the period. Patton Albertson Miller Group LLC grew its holdings in Truist Financial by 8.6% in the 4th quarter. Patton Albertson Miller Group LLC now owns 30,104 shares of the insurance provider’s stock worth $1,306,000 after acquiring an additional 2,385 shares during the last quarter. Toth Financial Advisory Corp increased its position in shares of Truist Financial by 18.2% in the fourth quarter. Toth Financial Advisory Corp now owns 7,871 shares of the insurance provider’s stock valued at $341,000 after acquiring an additional 1,213 shares during the period. Cyndeo Wealth Partners LLC raised its stake in shares of Truist Financial by 3.4% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 171,595 shares of the insurance provider’s stock valued at $7,444,000 after acquiring an additional 5,682 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Truist Financial by 3.2% during the fourth quarter. Geneos Wealth Management Inc. now owns 14,081 shares of the insurance provider’s stock worth $611,000 after purchasing an additional 437 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TFC. UBS Group upped their price target on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Stephens upped their target price on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Citigroup lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Royal Bank of Canada upped their price objective 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. Finally, Compass Point raised their target price on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

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 dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Also, CEO William H. Rogers, Jr. bought 34,180 shares of Truist Financial stock in a transaction on 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 acquisition, the chief executive officer now owns 691,451 shares of the company’s stock, valued at $33,576,860.56. The trade was a 5.20 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Truist Financial Trading Up 0.4 %

NYSE:TFC opened at $46.96 on Friday. Truist Financial Co. has a 52 week low of $34.23 and a 52 week high of $49.06. The stock has a market cap of $62.34 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 1.67 and a beta of 1.08. The company’s 50 day moving average price is $45.48 and its 200-day moving average price is $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.

Truist Financial (NYSE:TFC) last posted its 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 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%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 EPS. On average, equities research analysts forecast 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.