Atomi Financial Group Inc. Purchases 1,444 Shares of Truist Financial Co. (NYSE:TFC)

Atomi Financial Group Inc. raised its position in Truist Financial Co. (NYSE:TFC) by 9.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 17,120 shares of the insurance provider’s stock after buying an additional 1,444 shares during the quarter. Atomi Financial Group Inc.’s holdings in Truist Financial were worth $743,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Intech Investment Management LLC lifted its stake in Truist Financial by 63.3% during the second quarter. Intech Investment Management LLC now owns 14,415 shares of the insurance provider’s stock worth $560,000 after purchasing an additional 5,585 shares during the last quarter. Pacer Advisors Inc. grew its position in Truist Financial by 4.6% in the second quarter. Pacer Advisors Inc. now owns 95,577 shares of the insurance provider’s stock valued at $3,713,000 after acquiring an additional 4,192 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Truist Financial by 12.5% in the second quarter. EverSource Wealth Advisors LLC now owns 7,802 shares of the insurance provider’s stock valued at $303,000 after acquiring an additional 869 shares during the last quarter. Evergreen Capital Management LLC raised its stake in Truist Financial by 8.1% during the second quarter. Evergreen Capital Management LLC now owns 14,228 shares of the insurance provider’s stock worth $553,000 after acquiring an additional 1,063 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Truist Financial by 60.5% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 255,640 shares of the insurance provider’s stock worth $9,932,000 after acquiring an additional 96,410 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TFC. Citigroup upped their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, January 7th. Stephens upped their target price on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Barclays upped their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Insider Transactions at Truist Financial

In other news, CEO William H. Rogers, Jr. bought 34,180 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were bought 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. This trade represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Truist Financial Price Performance

Shares of TFC opened at $47.01 on Thursday. The firm has a market cap of $62.41 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.84 and a beta of 1.08. Truist Financial Co. has a 52-week low of $34.23 and a 52-week high of $49.06. The business’s 50 day moving average price is $45.45 and its two-hundred day moving average price is $43.73. 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 released its 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. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5,047,370 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. Truist Financial’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 EPS. On average, equities analysts anticipate that Truist Financial Co. will post 3.9 EPS for the current year.

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.