XML Financial LLC Reduces Stock Position in Truist Financial Co. (NYSE:TFC)

XML Financial LLC decreased its holdings in Truist Financial Co. (NYSE:TFC) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,477 shares of the insurance provider’s stock after selling 1,931 shares during the period. XML Financial LLC’s holdings in Truist Financial were worth $4,229,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Truist Financial by 48.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock valued at $129,000 after buying an additional 971 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Truist Financial by 3.5% during the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock valued at $64,638,000 after acquiring an additional 50,637 shares in the last quarter. Cadence Bank boosted its holdings in shares of Truist Financial by 101.6% in the third quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock valued at $7,920,000 after purchasing an additional 93,322 shares during the period. Boston Common Asset Management LLC grew its stake in Truist Financial by 66.4% in the third quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock worth $6,609,000 after purchasing an additional 61,683 shares in the last quarter. Finally, Independent Advisor Alliance increased its holdings in Truist Financial by 10.7% during the 3rd quarter. Independent Advisor Alliance now owns 282,607 shares of the insurance provider’s stock worth $12,087,000 after purchasing an additional 27,408 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TFC shares. Compass Point upped their target price on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Raymond James upped their price objective 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. The Goldman Sachs Group raised their target price on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Royal Bank of Canada upped their price target on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. 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, the company presently has an average rating of “Moderate Buy” and an average target price of $50.79.

Insiders Place Their Bets

In other news, CEO William H. Rogers, Jr. acquired 34,180 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were acquired 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 directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were 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 approximately $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

Truist Financial Price Performance

Shares of TFC opened at $47.90 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company’s fifty day moving average price is $45.43 and its 200-day moving average price is $43.66. Truist Financial Co. has a 1-year low of $34.23 and a 1-year high of $49.06. The firm has a market capitalization of $63.58 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 1.84 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion for 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 revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 earnings per share. On average, equities research analysts predict that Truist Financial Co. will post 3.9 EPS 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.