Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in shares of Truist Financial Corporation (NYSE:TFC) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 38,539 shares of the insurance provider’s stock, valued at approximately $2,171,000. Truist Financial makes up 0.8% of Livingston Group Asset Management CO operating as Southport Capital Management’s portfolio, making the stock its 28th largest position.
Other institutional investors have also made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in shares of Truist Financial in the 2nd quarter worth $26,000. Proffitt & Goodson Inc. raised its stake in shares of Truist Financial by 93.4% in the 3rd quarter. Proffitt & Goodson Inc. now owns 586 shares of the insurance provider’s stock worth $31,000 after buying an additional 283 shares in the last quarter. Hoey Investments Inc. bought a new stake in shares of Truist Financial in the 4th quarter worth $31,000. Northwest Investment Counselors LLC bought a new stake in shares of Truist Financial in the 3rd quarter worth $40,000. Finally, Prime Capital Investment Advisors LLC raised its stake in shares of Truist Financial by 200.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 750 shares of the insurance provider’s stock worth $40,000 after buying an additional 500 shares in the last quarter. 71.73% of the stock is currently owned by hedge funds and other institutional investors.
In other Truist Financial news, VP Donta L. Wilson sold 10,656 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $54.66, for a total transaction of $582,456.96. Following the completion of the sale, the vice president now directly owns 4,044 shares in the company, valued at approximately $221,045.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders sold a total of 225,327 shares of company stock worth $12,227,882 in the last three months. 0.49% of the stock is currently owned by company insiders.
TFC traded up $0.54 during trading on Thursday, reaching $55.67. The company had a trading volume of 1,509,742 shares, compared to its average volume of 5,057,800. The firm’s 50-day simple moving average is $55.61 and its 200 day simple moving average is $52.14. The company has a market cap of $42.25 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.78 and a beta of 1.18. Truist Financial Corporation has a 12-month low of $44.51 and a 12-month high of $56.92. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.84 and a current ratio of 0.85.
Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Thursday, October 17th. The insurance provider reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.04. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Truist Financial had a return on equity of 12.25% and a net margin of 23.17%. Truist Financial’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. On average, sell-side analysts expect that Truist Financial Corporation will post 4.26 EPS for the current year.
About Truist Financial
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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