Octavia Wealth Advisors LLC Decreases Holdings in Truist Financial Co. (NYSE:TFC)

Octavia Wealth Advisors LLC cut its holdings in shares of Truist Financial Co. (NYSE:TFC) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,909 shares of the insurance provider’s stock after selling 2,048 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Truist Financial were worth $1,905,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Tradewinds LLC. boosted its stake in Truist Financial by 0.5% in 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 in the last quarter. Koshinski Asset Management Inc. boosted its position in Truist Financial by 2.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock worth $470,000 after purchasing an additional 225 shares in the last quarter. Aaron Wealth Advisors LLC grew its holdings in Truist Financial by 3.0% during the 4th quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock valued at $335,000 after buying an additional 227 shares during the last quarter. Ignite Planners LLC boosted its position in Truist Financial by 1.4% during the fourth quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock worth $772,000 after acquiring an additional 246 shares during the last quarter. Finally, Burkett Financial Services LLC increased its stake in shares of Truist Financial by 26.8% during the 3rd quarter. Burkett Financial Services LLC now owns 1,198 shares of the insurance provider’s stock valued at $51,000 after acquiring an additional 253 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TFC shares. Stephens boosted their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price target on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Royal Bank of Canada increased their target price 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. Eleven investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Insider Activity at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial stock in a transaction that occurred 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 transaction, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. The trade was a 30.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the acquisition, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $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. Company insiders own 0.17% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC opened at $47.90 on Wednesday. The company’s 50 day simple moving average is $45.43 and its 200 day simple moving average is $43.66. Truist Financial Co. has a 1 year low of $34.23 and a 1 year high of $49.06. The company has a market capitalization of $63.58 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 1.84 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The firm 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%. Truist Financial’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.81 earnings per share. On average, sell-side analysts predict that Truist Financial Co. will post 3.9 EPS for the current year.

Truist Financial 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.