MassMutual Private Wealth & Trust FSB Has $2.77 Million Stake in Truist Financial Co. (NYSE:TFC)

MassMutual Private Wealth & Trust FSB reduced its position in Truist Financial Co. (NYSE:TFC) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 63,827 shares of the insurance provider’s stock after selling 1,591 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Truist Financial were worth $2,769,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Bangor Savings Bank boosted its position in Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 272 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Truist Financial during the 3rd quarter valued at about $26,000. MidAtlantic Capital Management Inc. acquired a new stake in Truist Financial during the third quarter worth approximately $32,000. Fortitude Family Office LLC increased its holdings in Truist Financial by 376.7% in the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in Truist Financial in the third quarter valued at approximately $45,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday. Stephens restated an “overweight” rating and issued a $54.00 target price on shares of Truist Financial in a research note on Thursday, January 2nd. Royal Bank of Canada upped their price target 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, Citigroup raised their price objective on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Eleven 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 stock has an average rating of “Moderate Buy” and a consensus price target of $49.95.

Insiders Place Their Bets

In related news, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the sale, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William H. Rogers, Jr. bought 34,180 shares of the business’s stock in a transaction on 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 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 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 Price Performance

Shares of NYSE:TFC opened at $47.63 on Tuesday. The company has a market capitalization of $63.23 billion, a P/E ratio of -33.31, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. The company’s 50-day moving average is $45.40 and its 200 day moving average is $43.60. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. Truist Financial Co. has a fifty-two week low of $34.23 and a fifty-two week high of $49.06.

Truist Financial (NYSE:TFC) last released its earnings results 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 firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5,047,370 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 EPS. On average, equities research analysts forecast that Truist Financial Co. will post 3.61 earnings per share for the current year.

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.