Genesis Private Wealth LLC Buys New Shares in Truist Financial Co. (NYSE:TFC)

Genesis Private Wealth LLC bought a new stake in shares of Truist Financial Co. (NYSE:TFC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,266 shares of the insurance provider’s stock, valued at approximately $228,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Simon Quick Advisors LLC lifted its stake in Truist Financial by 14.6% during the fourth quarter. Simon Quick Advisors LLC now owns 5,466 shares of the insurance provider’s stock valued at $237,000 after purchasing an additional 697 shares during the last quarter. Atomi Financial Group Inc. lifted its stake in Truist Financial by 9.2% during the fourth quarter. Atomi Financial Group Inc. now owns 17,120 shares of the insurance provider’s stock valued at $743,000 after purchasing an additional 1,444 shares during the last quarter. Ballentine Partners LLC lifted its position in shares of Truist Financial by 1.6% in the 4th quarter. Ballentine Partners LLC now owns 26,804 shares of the insurance provider’s stock valued at $1,163,000 after acquiring an additional 418 shares in the last quarter. Culbertson A N & Co. Inc. lifted its position in shares of Truist Financial by 5.9% in the 4th quarter. Culbertson A N & Co. Inc. now owns 49,703 shares of the insurance provider’s stock valued at $2,156,000 after acquiring an additional 2,781 shares in the last quarter. Finally, Koshinski Asset Management Inc. lifted its position in shares of Truist Financial by 2.1% in the 4th quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock valued at $470,000 after acquiring an additional 225 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Barclays upped their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods upped their price target on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, January 7th. Wells Fargo & Company upped their price target on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Raymond James upped their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.79.

Insider Activity at Truist Financial

In other Truist Financial news, 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 completion of the sale, the director now directly owns 11,246 shares of the company’s stock, valued at $519,565.20. This represents a 30.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of Truist Financial stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now directly owns 691,451 shares in the company, valued at $33,576,860.56. This trade represents a 5.20 % increase in their position. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.

Truist Financial Stock Performance

Shares of TFC opened at $47.90 on Wednesday. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06. The company’s fifty day moving average is $45.43 and its 200-day moving average is $43.66. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a market cap of $63.58 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 1.84 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted 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. 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 for the quarter, compared to analyst estimates of $5,047,370 billion. During the same period last year, the business posted $0.81 EPS. Truist Financial’s revenue was up 3.4% compared to the same quarter last year. Equities analysts expect that Truist Financial Co. will post 3.9 EPS for the current fiscal 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.