Octavia Wealth Advisors LLC Has $1.91 Million Stock Holdings in Truist Financial Co. (NYSE:TFC)

Octavia Wealth Advisors LLC cut its stake in Truist Financial Co. (NYSE:TFC) by 4.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,909 shares of the insurance provider’s stock after selling 2,048 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Truist Financial were worth $1,905,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bangor Savings Bank increased its position in shares of Truist Financial by 92.5% in 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 position in Truist Financial in the 3rd quarter valued at about $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Truist Financial during the 3rd quarter worth $32,000. Fortitude Family Office LLC grew its stake in shares of Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after buying an additional 678 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Truist Financial in the third quarter valued at approximately $45,000. 71.28% of the stock is currently owned by institutional investors.

Insider Transactions at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. bought 34,180 shares of Truist Financial 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 owns 691,451 shares in the company, valued at $33,576,860.56. The trade was a 5.20 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of Truist Financial 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 transaction, the director now owns 11,246 shares in the company, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TFC. Piper Sandler upped 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. The Goldman Sachs Group lifted their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. UBS Group lifted their price target on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, January 7th. Finally, Morgan Stanley increased their price objective on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Trading Up 0.5 %

Shares of NYSE:TFC opened at $47.90 on Wednesday. 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 stock has a market capitalization of $63.58 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 1.84 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. The company has a 50 day moving average price of $45.43 and a 200 day moving average price of $43.66.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5,047,370 billion. During the same quarter last year, the firm posted $0.81 EPS. The business’s quarterly revenue was up 3.4% on a year-over-year basis. On average, research analysts anticipate that Truist Financial Co. will post 3.9 EPS 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.