Simon Quick Advisors LLC Raises Stock Holdings in Truist Financial Co. (NYSE:TFC)

Simon Quick Advisors LLC boosted its stake in shares of Truist Financial Co. (NYSE:TFC) by 14.6% during the 4th quarter, HoldingsChannel reports. The fund owned 5,466 shares of the insurance provider’s stock after purchasing an additional 697 shares during the period. Simon Quick Advisors LLC’s holdings in Truist Financial were worth $237,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Intech Investment Management LLC raised its position in Truist Financial by 63.3% in the 2nd 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 period. AXA S.A. lifted its position in shares of Truist Financial by 24.3% during the second quarter. AXA S.A. now owns 112,178 shares of the insurance provider’s stock worth $4,358,000 after purchasing an additional 21,907 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Truist Financial by 16.7% during the second 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 period. APG Asset Management N.V. grew its holdings in shares of Truist Financial by 3.5% in the second quarter. APG Asset Management N.V. now owns 3,197,666 shares of the insurance provider’s stock worth $115,913,000 after purchasing an additional 108,819 shares during the last quarter. Finally, MBB Public Markets I LLC purchased a new position in Truist Financial in the 2nd quarter worth about $3,736,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

TFC opened at $46.96 on Friday. The company has a market cap of $62.34 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 1.67 and a beta of 1.08. The firm’s fifty day simple moving average is $45.47 and its two-hundred day simple moving average is $43.77. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 52-week low of $34.23 and a 52-week high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5,047,370 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. Truist Financial’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 EPS. Equities analysts anticipate that Truist Financial Co. will post 3.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TFC. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Keefe, Bruyette & Woods raised their price target on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday. The Goldman Sachs Group raised their target price on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Barclays upped their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Finally, Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and an average price target of $50.79.

Insider Transactions at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William H. Rogers, Jr. purchased 34,180 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was bought at an average price of $48.56 per share, with a total value of $1,659,780.80. Following the completion of 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 represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

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.