Cerro Pacific Wealth Advisors LLC Grows Position in Truist Financial Co. (NYSE:TFC)

Cerro Pacific Wealth Advisors LLC raised its position in Truist Financial Co. (NYSE:TFC) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,982 shares of the insurance provider’s stock after acquiring an additional 927 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Truist Financial were worth $812,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avior Wealth Management LLC lifted its position in shares of Truist Financial by 41.8% during the 4th quarter. Avior Wealth Management LLC now owns 6,289 shares of the insurance provider’s stock worth $273,000 after purchasing an additional 1,855 shares during the last quarter. Mutual Advisors LLC boosted its position in shares of Truist Financial by 16.3% during the 4th quarter. Mutual Advisors LLC now owns 36,483 shares of the insurance provider’s stock worth $1,641,000 after acquiring an additional 5,103 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Truist Financial by 0.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 969,022 shares of the insurance provider’s stock valued at $42,036,000 after acquiring an additional 3,378 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Truist Financial by 1,028.0% during the 4th quarter. SG Americas Securities LLC now owns 456,816 shares of the insurance provider’s stock worth $19,817,000 after acquiring an additional 416,317 shares in the last quarter. Finally, Daymark Wealth Partners LLC lifted its stake in Truist Financial by 4.4% during the fourth quarter. Daymark Wealth Partners LLC now owns 7,231 shares of the insurance provider’s stock worth $314,000 after purchasing an additional 305 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Down 0.6 %

Truist Financial stock opened at $46.72 on Friday. The stock’s 50 day moving average price is $45.46 and its 200 day moving average price is $43.75. Truist Financial Co. has a 1-year low of $34.23 and a 1-year high of $49.06. The company has a market cap of $62.03 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5,047,370 billion. During the same period last year, the firm earned $0.81 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, sell-side analysts predict that Truist Financial Co. will post 3.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TFC. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Wells Fargo & Company raised their price objective on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Barclays boosted their target price on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Piper Sandler lifted their price target on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. Eleven equities research 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

Insider Buying and Selling at Truist Financial

In related news, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the sale, the director now owns 11,246 shares in the company, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.

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.