Steven Voorhees Just Bought 49% More Shares In Truist Financial Corporation (NYSE:TFC)
Truist Financial Corporation (NYSE:TFC) shareholders (or potential shareholders) will be happy to see that insider Steven Voorhees recently bought a whopping US$996k worth of stock, at a price of US$49.82. Aside from being a solid chunk in its own right, the deft move also saw their holding increase by some 49%.
Check out our latest analysis for Truist Financial
The Last 12 Months Of Insider Transactions At Truist Financial
Over the last year, we can see that the biggest insider purchase was by Executive Chairman William Rogers for US$4.1m worth of shares, at about US$61.85 per share. That means that even when the share price was higher than US$49.06 (the recent price), an insider wanted to purchase shares. It's very possible they regret the purchase, but it's more likely they are bullish about the company. We always take careful note of the price insiders pay when purchasing shares. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price.
Happily, we note that in the last year insiders paid US$6.3m for 107.00k shares. But insiders sold 16.95k shares worth US$1.0m. In total, Truist Financial insiders bought more than they sold over the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.
Insider Ownership
Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. I reckon it's a good sign if insiders own a significant number of shares in the company. It's great to see that Truist Financial insiders own 0.3% of the company, worth about US$195m. Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders.
What Might The Insider Transactions At Truist Financial Tell Us?
It is good to see the recent insider purchase. And an analysis of the transactions over the last year also gives us confidence. Along with the high insider ownership, this analysis suggests that insiders are quite bullish about Truist Financial. One for the watchlist, at least! In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Truist Financial. Every company has risks, and we've spotted 1 warning sign for Truist Financial you should know about.
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
