New Century Financial Group LLC Sells 285 Shares of Truist Financial Co. (NYSE:TFC)

New Century Financial Group LLC lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 1.0% in the fourth quarter, HoldingsChannel reports. The fund owned 27,096 shares of the insurance provider’s stock after selling 285 shares during the period. New Century Financial Group LLC’s holdings in Truist Financial were worth $1,195,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TFC. Bangor Savings Bank increased its position in Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 272 shares during the period. Valley Wealth Managers Inc. bought a new position in shares of Truist Financial in the 3rd quarter valued at about $26,000. MidAtlantic Capital Management Inc. bought a new position in shares of Truist Financial in the 3rd quarter valued at about $32,000. Fortitude Family Office LLC grew its position in shares of Truist Financial by 376.7% during the 3rd 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 period. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Truist Financial during the third quarter worth approximately $45,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In related news, CEO William H. Rogers, Jr. purchased 34,180 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was purchased at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the sale, the director now owns 11,246 shares in the company, valued at approximately $519,565.20. This represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Compass Point raised their price target on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Wells Fargo & Company upped their price objective on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group raised their target price on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Eleven investment 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Stock Down 0.6 %

TFC stock opened at $46.72 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $62.03 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.67 and a beta of 1.08. Truist Financial Co. has a fifty-two week low of $34.23 and a fifty-two week high of $49.06. The business has a 50-day moving average of $45.46 and a 200-day moving average of $43.75.

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

About Truist Financial

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.