Insider Selling: Truist Financial (NYSE:TFC) CEO Sells 13,250 Shares of Stock

Truist Financial Corporation (NYSE:TFC) CEO William Rogers, Jr. sold 13,250 shares of the business’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $52.36, for a total transaction of $693,770.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Truist Financial Trading Up 1.1%

Shares of NYSE:TFC traded up $0.58 during trading on Tuesday, reaching $52.70. 2,331,365 shares of the company were exchanged, compared to its average volume of 9,347,322. The business’s fifty day simple moving average is $49.91 and its 200-day simple moving average is $49.56. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Corporation has a 12-month low of $40.78 and a 12-month high of $56.19. The firm has a market capitalization of $65.66 billion, a PE ratio of 12.10, a P/E/G ratio of 0.94 and a beta of 0.89.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The firm had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.24 billion. During the same quarter in the previous year, the business earned $0.91 earnings per share. Truist Financial’s quarterly revenue was up 5.6% on a year-over-year basis. On average, research analysts anticipate that Truist Financial Corporation will post 4.59 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Morgan Stanley reissued an “equal weight” rating and set a $54.00 price target (down from $62.00) on shares of Truist Financial in a research report on Monday, July 6th. Evercore restated an “outperform” rating and issued a $57.00 price objective on shares of Truist Financial in a report on Monday, July 6th. Weiss Ratings raised shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Jefferies Financial Group reiterated a “mixed” rating and set a $45.00 target price on shares of Truist Financial in a report on Friday, April 17th. Finally, Royal Bank Of Canada raised their target price on shares of Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Truist Financial currently has an average rating of “Hold” and an average target price of $54.61.

Institutional Investors Weigh In On Truist Financial

A number of hedge funds have recently made changes to their positions in the stock. Kemnay Advisory Services Inc. bought a new stake in Truist Financial during the fourth quarter valued at about $25,000. Swiss RE Ltd. purchased a new stake in shares of Truist Financial during the fourth quarter valued at about $26,000. McMillan Office Inc. purchased a new position in shares of Truist Financial in the 4th quarter worth approximately $31,000. Maseco LLP increased its position in shares of Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 228 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC increased its position in Truist Financial by 190.7% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after buying an additional 431 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.