Atomi Financial Group Inc. Buys 1,444 Shares of Truist Financial Co. (NYSE:TFC)

Atomi Financial Group Inc. raised its position in Truist Financial Co. (NYSE:TFC) by 9.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 17,120 shares of the insurance provider’s stock after buying an additional 1,444 shares during the period. Atomi Financial Group Inc.’s holdings in Truist Financial were worth $743,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Truist Financial by 48.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock worth $129,000 after purchasing an additional 971 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Truist Financial by 3.5% during the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after buying an additional 50,637 shares during the last quarter. Cadence Bank boosted its stake in Truist Financial by 101.6% in the third quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock valued at $7,920,000 after acquiring an additional 93,322 shares during the last quarter. Boston Common Asset Management LLC boosted its stake in Truist Financial by 66.4% in the third quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock valued at $6,609,000 after acquiring an additional 61,683 shares during the last quarter. Finally, Independent Advisor Alliance grew its holdings in Truist Financial by 10.7% during the 3rd quarter. Independent Advisor Alliance now owns 282,607 shares of the insurance provider’s stock worth $12,087,000 after acquiring an additional 27,408 shares during the period. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the transaction, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the acquisition, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by insiders.

Truist Financial Trading Down 1.8 %

Shares of Truist Financial stock opened at $47.01 on Thursday. The business’s 50 day moving average is $45.45 and its 200-day moving average is $43.73. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06. The stock has a market cap of $62.41 billion, a P/E ratio of 14.12, a P/E/G ratio of 1.84 and a beta of 1.08. 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 (NYSE:TFC) last issued 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 return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5,047,370 billion. During the same period in the previous year, the company posted $0.81 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities research analysts predict that Truist Financial Co. will post 3.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of analyst reports. Morgan Stanley increased their price target on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday. Keefe, Bruyette & Woods boosted their target price on Truist Financial from $55.00 to $57.00 and gave the stock 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 on the stock in a research report on Tuesday, January 7th. Stephens upped their target price on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Raymond James lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.79.

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.