Daymark Wealth Partners LLC Has $314,000 Stake in Truist Financial Co. (NYSE:TFC)

Daymark Wealth Partners LLC lifted its position in shares of Truist Financial Co. (NYSE:TFC) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,231 shares of the insurance provider’s stock after buying an additional 305 shares during the period. Daymark Wealth Partners LLC’s holdings in Truist Financial were worth $314,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Global Trust Asset Management LLC raised its holdings in shares of Truist Financial by 1,360.4% in the fourth quarter. Global Trust Asset Management LLC now owns 3,651 shares of the insurance provider’s stock valued at $158,000 after purchasing an additional 3,401 shares during the last quarter. Dakota Wealth Management grew its position in Truist Financial by 0.9% in the fourth quarter. Dakota Wealth Management now owns 151,371 shares of the insurance provider’s stock valued at $6,566,000 after purchasing an additional 1,378 shares in the last quarter. Eads & Heald Wealth Management increased its stake in Truist Financial by 28.0% in the 4th quarter. Eads & Heald Wealth Management now owns 17,939 shares of the insurance provider’s stock valued at $778,000 after buying an additional 3,925 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Truist Financial by 0.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 436,867 shares of the insurance provider’s stock worth $18,951,000 after buying an additional 1,423 shares in the last quarter. Finally, Genesis Private Wealth LLC acquired a new position in shares of Truist Financial during the 4th quarter worth about $228,000. 71.28% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director K. David Jr. Boyer sold 4,966 shares of the company’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 transaction of $229,429.20. Following the completion of the sale, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This represents a 30.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Stock Up 0.4 %

Shares of TFC opened at $46.96 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $62.34 billion, a PE ratio of 14.10, a P/E/G ratio of 1.67 and a beta of 1.08. The firm’s 50 day moving average is $45.47 and its 200-day moving average is $43.77. Truist Financial Co. has a 12 month low of $34.23 and a 12 month high of $49.06.

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

Analyst Ratings Changes

A number of research firms have weighed in on TFC. UBS Group raised their price target on Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. boosted their price target on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Eleven 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.79.

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.