BankPlus Wealth Management LLC Purchases Shares of 7,378 Truist Financial Co. (NYSE:TFC)

BankPlus Wealth Management LLC acquired a new position in Truist Financial Co. (NYSE:TFC) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 7,378 shares of the insurance provider’s stock, valued at approximately $320,000.

Other large investors have also recently modified their holdings of the company. AXA S.A. lifted its holdings in shares of Truist Financial by 24.3% during the 2nd quarter. AXA S.A. now owns 112,178 shares of the insurance provider’s stock valued at $4,358,000 after purchasing an additional 21,907 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Truist Financial by 16.7% in the 2nd quarter. AQR Capital Management LLC now owns 878,298 shares of the insurance provider’s stock valued at $33,560,000 after purchasing an additional 125,385 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Truist Financial by 52.2% in the 2nd quarter. Mackenzie Financial Corp now owns 299,914 shares of the insurance provider’s stock worth $11,652,000 after purchasing an additional 102,823 shares in the last quarter. NewEdge Advisors LLC grew its position in Truist Financial by 0.3% during the 2nd quarter. NewEdge Advisors LLC now owns 148,053 shares of the insurance provider’s stock worth $5,752,000 after purchasing an additional 444 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Truist Financial by 17.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 236,352 shares of the insurance provider’s stock valued at $9,182,000 after purchasing an additional 34,681 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were 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 approximately $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the acquisition, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. The trade was a 5.20 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TFC. Piper Sandler boosted their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Raymond James increased their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Barclays lifted their target price on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Stephens raised their price target on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, Morgan Stanley lifted their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Price Performance

Truist Financial stock opened at $47.59 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The company’s fifty day moving average price is $45.48 and its 200 day moving average price is $43.90. The stock has a market capitalization of $63.18 billion, a P/E ratio of 14.29, a P/E/G ratio of 1.67 and a beta of 1.08. Truist Financial Co. has a 1 year low of $34.23 and a 1 year high of $49.06.

Truist Financial (NYSE:TFC) last released its 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 business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5,047,370 billion. During the same quarter in the previous year, the company earned $0.81 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts anticipate that Truist Financial Co. will post 3.95 earnings per share for the current fiscal 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.