Global Retirement Partners LLC Sells 14,542 Shares of Truist Financial Co. (NYSE:TFC)


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Global Retirement Partners LLC trimmed its stake in shares of Truist Financial Co. (NYSE:TFC) by 40.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,731 shares of the insurance provider’s stock after selling 14,542 shares during the quarter. Global Retirement Partners LLC’s holdings in Truist Financial were worth $1,042,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Peoples Financial Services CORP. grew its stake in shares of Truist Financial by 173.4% during the fourth quarter. Peoples Financial Services CORP. now owns 544 shares of the insurance provider’s stock worth $26,000 after buying an additional 345 shares during the last quarter. Provident Wealth Management LLC bought a new position in shares of Truist Financial in the 3rd quarter valued at $51,000. Grace Capital bought a new position in shares of Truist Financial in the 3rd quarter valued at $53,000. Holloway Wealth Management LLC bought a new position in shares of Truist Financial in the 3rd quarter valued at $65,000. Finally, Cerebellum GP LLC bought a new position in shares of Truist Financial in the 3rd quarter valued at $65,000. 73.36% of the stock is owned by institutional investors and hedge funds.

Shares of Truist Financial stock opened at $52.08 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average price of $47.93 and a two-hundred day moving average price of $41.94. Truist Financial Co. has a 1-year low of $24.01 and a 1-year high of $56.53. The company has a market cap of $70.21 billion, a P/E ratio of 17.71, a PEG ratio of 1.43 and a beta of 1.40.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Thursday, October 15th. The insurance provider reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.09. Truist Financial had a return on equity of 7.76% and a net margin of 16.95%. The firm had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.48 billion. During the same period last year, the business posted $0.95 EPS. The business’s revenue was up 85.1% compared to the same quarter last year. Equities research analysts forecast that Truist Financial Co. will post 3.52 EPS for the current fiscal year.

A number of research analysts have recently commented on TFC shares. ValuEngine upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, November 10th. Truist cut Truist Financial from a “buy” rating to a “hold” rating in a research note on Thursday, January 7th. Keefe, Bruyette & Woods cut Truist Financial from an “outperform” rating to a “market perform” rating and increased their price target for the company from $49.00 to $50.00 in a research note on Thursday, November 19th. TheStreet upgraded Truist Financial from a “c+” rating to a “b-” rating in a research note on Thursday, October 8th. Finally, Bank of America dropped their price target on Truist Financial from $51.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, October 16th. Thirteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $48.25.

In other news, EVP Kimberly Moore-Wright sold 1,398 shares of the firm’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $44.09, for a total value of $61,637.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Brantley J. Standridge sold 1,500 shares of the firm’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $45.10, for a total value of $67,650.00. Following the completion of the sale, the vice president now owns 12,510 shares of the company’s stock, valued at $564,201. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,387 shares of company stock valued at $342,162. Company insiders own 0.35% of the company’s stock.

Truist Financial Company Profile

Truist Financial Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals 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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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