SG Americas Securities LLC Buys 416,317 Shares of Truist Financial Co. (NYSE:TFC)

SG Americas Securities LLC raised its position in shares of Truist Financial Co. (NYSE:TFC) by 1,028.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 456,816 shares of the insurance provider’s stock after acquiring an additional 416,317 shares during the period. SG Americas Securities LLC’s holdings in Truist Financial were worth $19,817,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bangor Savings Bank grew its holdings in shares of Truist Financial by 92.5% during the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 272 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in Truist Financial during the third quarter worth about $26,000. MidAtlantic Capital Management Inc. acquired a new stake in Truist Financial during the third quarter worth about $32,000. Fortitude Family Office LLC increased its holdings in Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after buying an additional 678 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Truist Financial in the 3rd quarter valued at approximately $45,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

TFC stock opened at $47.01 on Thursday. The firm has a market cap of $62.41 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.70 and a beta of 1.08. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average price of $45.45 and a 200-day moving average price of $43.73. Truist Financial Co. has a 1-year low of $34.23 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share 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 firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 earnings per share. As a group, equities research analysts expect that Truist Financial Co. will post 3.95 earnings per share for the current year.

Insider Buying and Selling

In other 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of Truist Financial stock in a transaction that occurred 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 transaction, 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 position. The disclosure for this purchase can be found here. 0.17% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Royal Bank of Canada raised their target price on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Morgan Stanley raised their price objective on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. upped their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, Raymond James boosted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and a consensus target price 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.