Livingston Group Asset Management CO operating as Southport Capital Management Makes New $2.17 Million Investment in Truist Financial Corporation (NYSE:TFC)

Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in Truist Financial Corporation (NYSE:TFC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 38,539 shares of the insurance provider’s stock, valued at approximately $2,171,000. Truist Financial comprises approximately 0.8% of Livingston Group Asset Management CO operating as Southport Capital Management’s investment portfolio, making the stock its 28th largest holding.

A number of other institutional investors have also recently bought and sold shares of the business. Wealthfront Advisers LLC lifted its position in shares of Truist Financial by 0.4% in the third quarter. Wealthfront Advisers LLC now owns 54,805 shares of the insurance provider’s stock valued at $2,925,000 after acquiring an additional 194 shares in the last quarter. Gradient Investments LLC boosted its stake in shares of Truist Financial by 6.9% during the 3rd quarter. Gradient Investments LLC now owns 3,106 shares of the insurance provider’s stock worth $166,000 after purchasing an additional 200 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its holdings in shares of Truist Financial by 2.1% during the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 9,552 shares of the insurance provider’s stock worth $510,000 after buying an additional 200 shares in the last quarter. Ellis Investment Partners LLC grew its holdings in shares of Truist Financial by 20.5% during the third quarter. Ellis Investment Partners LLC now owns 1,309 shares of the insurance provider’s stock worth $68,000 after buying an additional 223 shares in the last quarter. Finally, NuWave Investment Management LLC raised its position in shares of Truist Financial by 19.1% in the third quarter. NuWave Investment Management LLC now owns 1,391 shares of the insurance provider’s stock valued at $71,000 after buying an additional 223 shares during the last quarter. 71.73% of the stock is currently owned by institutional investors.

Shares of TFC stock traded up $0.54 during trading hours on Thursday, hitting $55.67. 1,509,742 shares of the company were exchanged, compared to its average volume of 5,057,800. The firm has a market cap of $42.25 billion, a PE ratio of 13.75, a PEG ratio of 1.78 and a beta of 1.18. Truist Financial Corporation has a 1 year low of $44.51 and a 1 year high of $56.92. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.87. The firm has a fifty day moving average of $55.61 and a 200 day moving average of $52.14.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.04. Truist Financial had a net margin of 23.17% and a return on equity of 12.25%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period in the prior year, the firm posted $1.01 EPS. The company’s revenue was up 2.6% on a year-over-year basis. Analysts expect that Truist Financial Corporation will post 4.26 earnings per share for the current year.

In other Truist Financial news, CEO Kelly S. King sold 201,806 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $54.22, for a total value of $10,941,921.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Donta L. Wilson sold 10,656 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $54.66, for a total value of $582,456.96. Following the completion of the transaction, the vice president now directly owns 4,044 shares in the company, valued at $221,045.04. The disclosure for this sale can be found here. Insiders sold 225,327 shares of company stock worth $12,227,882 over the last three months. 0.49% of the stock is currently owned by corporate insiders.

Several brokerages recently issued reports on TFC. Bank of America upped their price objective on shares of Truist Financial from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Credit Suisse Group started coverage on shares of Truist Financial in a research note on Monday, December 16th. They issued a “neutral” rating and a $55.00 target price for the company. Zacks Investment Research upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a report on Wednesday, January 1st. ValuEngine lowered Truist Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, December 11th. Finally, UBS Group decreased their price objective on Truist Financial from $53.00 to $52.00 and set a “neutral” rating on the stock in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. Truist Financial presently has a consensus rating of “Buy” and an average target price of $55.85.

Truist Financial Company Profile

Truist Financial Corp., formerly BB&T, is a bank holding company based in Charlotte, North Carolina. Its bank operates 2,049 branches in 15 states and Washington, DC, and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.

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

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