Hengehold Capital Management LLC Purchases 905 Shares of Truist Financial Co. (NYSE:TFC)

Hengehold Capital Management LLC raised its holdings in shares of Truist Financial Co. (NYSE:TFC) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,838 shares of the insurance provider’s stock after acquiring an additional 905 shares during the period. Hengehold Capital Management LLC’s holdings in Truist Financial were worth $3,507,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TFC. Cerro Pacific Wealth Advisors LLC raised its position in Truist Financial by 5.1% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 18,982 shares of the insurance provider’s stock worth $812,000 after purchasing an additional 927 shares during the period. Avior Wealth Management LLC lifted its stake in shares of Truist Financial by 41.8% in the 4th quarter. Avior Wealth Management LLC now owns 6,289 shares of the insurance provider’s stock valued at $273,000 after acquiring an additional 1,855 shares during the last quarter. Mutual Advisors LLC boosted its holdings in Truist Financial by 16.3% during the 4th quarter. Mutual Advisors LLC now owns 36,483 shares of the insurance provider’s stock valued at $1,641,000 after acquiring an additional 5,103 shares during the period. Janney Montgomery Scott LLC increased its stake in Truist Financial by 0.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 969,022 shares of the insurance provider’s stock worth $42,036,000 after purchasing an additional 3,378 shares during the period. Finally, SG Americas Securities LLC increased its stake in Truist Financial by 1,028.0% in the 4th quarter. SG Americas Securities LLC now owns 456,816 shares of the insurance provider’s stock worth $19,817,000 after purchasing an additional 416,317 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

Shares of TFC opened at $46.72 on Friday. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06. The business’s fifty day simple moving average is $45.46 and its two-hundred day simple moving average is $43.75. 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 company has a market cap of $62.03 billion, a price-to-earnings ratio of 14.03, a P/E/G ratio of 1.67 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its quarterly 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. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5,047,370 billion. During the same period in the previous year, the business posted $0.81 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Research analysts anticipate that Truist Financial Co. will post 3.95 earnings per share for the current fiscal year.

Insider Activity at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the sale, the director now directly owns 11,246 shares in the company, valued at $519,565.20. This represents a 30.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the acquisition, 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 company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Barclays raised their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Raymond James upped their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Royal Bank of Canada raised their target price on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Finally, Stephens upped their price target on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday. Eleven investment 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. According to MarketBeat.com, the company presently has a consensus 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.