First Command Financial Services Inc. bought a new stake in shares of Truist Financial Corporation (NYSE:TFC) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 6,663 shares of the insurance provider’s stock, valued at approximately $375,000.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Truist Financial by 1.9% in the second quarter. Vanguard Group Inc. now owns 61,197,584 shares of the insurance provider’s stock worth $3,006,637,000 after buying an additional 1,125,819 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Truist Financial by 2.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 29,799,250 shares of the insurance provider’s stock valued at $1,590,386,000 after purchasing an additional 790,879 shares during the period. Bank of America Corp DE increased its holdings in shares of Truist Financial by 6.8% during the second quarter. Bank of America Corp DE now owns 18,849,552 shares of the insurance provider’s stock valued at $926,077,000 after purchasing an additional 1,203,362 shares during the period. Macquarie Group Ltd. increased its holdings in shares of Truist Financial by 4.3% during the second quarter. Macquarie Group Ltd. now owns 15,426,112 shares of the insurance provider’s stock valued at $757,885,000 after purchasing an additional 633,529 shares during the period. Finally, Royal Bank of Canada increased its holdings in shares of Truist Financial by 3.9% during the second quarter. Royal Bank of Canada now owns 8,082,503 shares of the insurance provider’s stock valued at $397,092,000 after purchasing an additional 301,500 shares during the period. Institutional investors own 71.73% of the company’s stock.

In other Truist Financial news, VP Brantley J. Standridge sold 8,580 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $54.90, for a total transaction of $471,042.00. Following the completion of the sale, the vice president now directly owns 12,059 shares in the company, valued at approximately $662,039.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kelly S. King sold 201,806 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $54.22, for a total value of $10,941,921.32. The disclosure for this sale can be found here. Insiders sold a total of 225,327 shares of company stock valued at $12,227,882 in the last quarter. 0.49% of the stock is currently owned by corporate insiders.

A number of brokerages have recently commented on TFC. Citigroup raised their price target on Truist Financial from $53.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Credit Suisse Group began coverage on Truist Financial in a report on Monday, December 16th. They set a “neutral” rating and a $55.00 price target on the stock. UBS Group decreased their target price on Truist Financial from $53.00 to $52.00 and set a “neutral” rating for the company in a research note on Monday, October 21st. Zacks Investment Research raised Truist Financial from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Wednesday, January 1st. Finally, Morgan Stanley began coverage on Truist Financial in a research note on Thursday, December 19th. They set an “equal weight” rating and a $56.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $55.85.

Shares of NYSE:TFC traded up $0.16 during midday trading on Tuesday, reaching $56.38. The company had a trading volume of 929,104 shares, compared to its average volume of 5,279,680. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.84 and a current ratio of 0.85. Truist Financial Corporation has a 1-year low of $44.51 and a 1-year high of $56.92. The firm has a market cap of $42.86 billion, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 1.77 and a beta of 1.18. The company has a fifty day simple moving average of $55.57 and a two-hundred day simple moving average of $52.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Thursday, October 17th. The insurance provider reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.04. Truist Financial had a return on equity of 12.25% and a net margin of 23.17%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same quarter last year, the company posted $1.01 EPS. Truist Financial’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts expect that Truist Financial Corporation will post 4.26 EPS for the current year.

Truist Financial Profile

Truist Financial Corp., formerly BB&T, is a bank holding company based in Charlotte, North Carolina. Its bank operates 2,049 branches in 15 states and Washington, DC, and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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