Raleigh Capital Management Inc. Sells 943 Shares of Truist Financial Co. (NYSE:TFC)

Raleigh Capital Management Inc. lowered its position in Truist Financial Co. (NYSE:TFC) by 2.6% during the fourth quarter, Holdings Channel reports. The firm owned 35,062 shares of the insurance provider’s stock after selling 943 shares during the period. Raleigh Capital Management Inc.’s holdings in Truist Financial were worth $1,521,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Tradewinds LLC. boosted its position in Truist Financial by 0.5% during the third quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock valued at $1,904,000 after acquiring an additional 222 shares during the last quarter. Koshinski Asset Management Inc. boosted its holdings in shares of Truist Financial by 2.1% during the 4th quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock worth $470,000 after buying an additional 225 shares in the last quarter. Aaron Wealth Advisors LLC grew its holdings in Truist Financial by 3.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock worth $335,000 after purchasing an additional 227 shares during the period. Ignite Planners LLC increased its position in Truist Financial by 1.4% in the 4th quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock valued at $772,000 after buying an additional 246 shares in the last quarter. Finally, Burkett Financial Services LLC raised its position in shares of Truist Financial by 26.8% during the third quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 253 shares during the period. 71.28% of the stock is owned by institutional investors.

Insider Buying and Selling at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of the business’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 sale, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The stock was bought at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the purchase, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TFC. Morgan Stanley lifted their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Raymond James raised their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. Finally, Barclays lifted their target price on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

Truist Financial Trading Down 1.8 %

Shares of TFC stock opened at $47.01 on Thursday. 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 firm has a market cap of $62.41 billion, a P/E ratio of 14.12, a PEG ratio of 1.70 and a beta of 1.08. The company has a 50 day moving average of $45.46 and a 200-day moving average of $43.75. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (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 the consensus estimate 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 revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the business posted $0.81 earnings per share. Sell-side analysts anticipate that Truist Financial Co. will post 3.95 earnings per share for the current year.

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.