Aprio Wealth Management LLC, a reputable investment management firm, has recently filed a Form 13F with the Securities and Exchange Commission revealing its lowered stake in shares of Truist Financial Co. (NYSE:TFC) by 44.7% during the first quarter. The company formerly owned 11,355 shares of the insurance provider’s stock but after selling 9,173 shares during this period now has holdings worth $387,000 as of its latest filing with the SEC.
Truist Financial reported its quarterly earnings results on April 20th where it presented $1.09 EPS for the quarter which missed analysts’ consensus estimates of $1.13 by ($0.04). Such figures did not impress some research firms such as Barclays and Keefe, Bruyette & Woods, who both reduced their price objective on the stock following these results.
Despite reports from recent research firms downgrading their outlook on TFC, compared to last year records show that the business’s quarterly revenue was up 15%, with sell-side analysts anticipating that Truist Financial Co. will post 4.26 earnings per share for this year.
While some may consider Aprio Wealth Management LLC’s decision to sell off Truist Financial shares a sign of lack in confidence for the company, it is likely that investors are simply diversifying their portfolios or reallocating other investments during an uncertain economic climate. Regardless of what led to Aprio Wealth Management LLC’s decision to lower investment in this particular company, investors and shareholders should continue to be mindful as external factors have a way of impacting market trends either positively or adversely at any time.
Institutional Investor Positions and Recent Ratings Changes of Truist Financial Co.
Truist Financial Co. has experienced various changes in institutional investor positions in its stock, according to recent reports. Nwam LLC increased its holdings by 2.3%, equaling 9,084 shares worth $391,000; Investors Asset Management of Georgia Inc. GA ADV likewise raised their position by 0.8% to now hold 27,299 shares worth $1,175,000; on the other hand, Heritage Trust Co’s holdings increased by 0.6% with their new shares amounting to 42,491 or a value of $1,828,000. EPG Wealth Management LLC and Marino Stram & Associates LLC also recently acquired additional Truist Financial shares at rates of 1.8% and 1.2%, respectively.
Despite this activity among institutional investors, Truist didn’t escape some turnarounds concerning ratings and targets from various research firms lately either. Industry publications report that the company received a “buy” rating from seven analysts and was downgraded by one analyst who rated them as “sell,” while ten analysts rated their stocks as “hold.”
To shed more information into Truist’s current situation and financial performance: as of Friday’s opening (July 16th), TFC’s market capitalization was recorded at $39.96 billion with a P/E ratio of 6.68 and a PEG ratio of 1.58 together with an indicated beta at just over one for curiosity seekers.
The firm’s quick ratios (0.86) lies just below their current-status quo ratios (0.87), while Truist’s debt-to-equity ratio currently stands at an even higher level – specifically being recorded at a subscription rate corresponding to $1 debt subscribed for every dollar invested so roughy like double that ($2). In figures’ view combined then again: The firm is seen reaching extreme points where many areas of its structure should be inspected in greater detail.
Via data from Bloomberg.com, the company’s stock currently holds an average rating of “hold” and has an average target price of $45.22, with Citigroup having decreased its target prices for Truist Financial twice recently. This was from $48 to $46 in a research report on Friday, June 9th; and then again to $43 showing a sharp cutback then.
Moreover, this Tennessee based firm paid its shareholders with a quarterly dividend last June 1st. This reward is estimated at $0.52 per share or an annualized amount totaling up to $2.08, which translates to almost 7% yield returns for investors due to their mid-$30s open price on the mentioned date range as stated earlier.
For relevant news and events related to insider trading activities: Executive Director Charles A. Patton bought 3,668 shares of TFC at $19 per share or a total cost of roughly $70k last May 2nd. The director now owns these shares worth approximately the same amount transacted during the purchase according to reports, taking into account any possible changes in market value since that date.
All in all, these findings highlight how dynamic Truist Financial’s situation is at present where they boast impressive capitalization despite some noticeable inconsistencies in investment trends that suggest they’re facing some troubles along a broad front as well with ratings adjustments coming down harder over recent months–all just magnifying their need for long-term planning right now more than ever.
Source: beststocks.com
