Jolley Asset Management LLC acquired a new stake in shares of Truist Financial Corporation (NYSE:TFC) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 3,775 shares of the insurance provider’s stock, valued at approximately $213,000.

Other large investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in shares of Truist Financial by 10.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 331,427 shares of the insurance provider’s stock valued at $17,704,000 after purchasing an additional 30,524 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Truist Financial by 0.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,642,426 shares of the insurance provider’s stock valued at $80,692,000 after purchasing an additional 7,749 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Truist Financial by 2.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 29,799,250 shares of the insurance provider’s stock worth $1,590,386,000 after acquiring an additional 790,879 shares during the last quarter. IBM Retirement Fund bought a new position in Truist Financial in the 4th quarter worth about $1,110,000. Finally, Bridge Creek Capital Management LLC bought a new position in Truist Financial in the 4th quarter worth about $4,246,000. Institutional investors own 72.09% of the company’s stock.

In other news, VP Donta L. Wilson sold 10,656 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was 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 approximately $221,045.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas E. Skains sold 4,285 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $54.25, for a total value of $232,461.25. Following the completion of the transaction, the director now owns 30,753 shares of the company’s stock, valued at $1,668,350.25. The disclosure for this sale can be found here. Insiders sold a total of 225,327 shares of company stock valued at $12,227,882 over the last quarter. Company insiders own 0.49% of the company’s stock.

Shares of TFC traded down $0.99 during midday trading on Friday, reaching $55.37. The stock had a trading volume of 231,954 shares, compared to its average volume of 4,669,059. The company’s 50-day moving average is $55.91 and its 200 day moving average is $52.43. Truist Financial Corporation has a 12-month low of $44.51 and a 12-month high of $56.92. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $43.17 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.78 and a beta of 1.18.

A number of equities analysts have weighed in on TFC shares. Morgan Stanley started coverage on Truist Financial in a research note on Thursday, December 19th. They issued an “equal weight” rating and a $56.00 target price on the stock. UBS Group decreased their target price on Truist Financial from $53.00 to $52.00 and set a “neutral” rating on the stock in a research note on Monday, October 21st. Jefferies Financial Group upgraded Truist Financial from a “hold” rating to a “buy” rating and upped their target price for the stock from $52.00 to $58.00 in a research note on Tuesday, October 8th. Janney Montgomery Scott lowered Truist Financial from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Finally, ValuEngine upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $55.85.

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.

Further Reading: Cash Flow

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

Receive News & Ratings for Truist Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Truist Financial and related companies with MarketBeat.com's FREE daily email newsletter.