Energy giant ExxonMobil (XOM) has received a downgrade from Truist Securities to Hold from Buy. The firm has also slashed its price target for ExxonMobil’s shares from $146 to $124, citing valuation concerns in the near term. Yahoo Finance’s Madison Mills and Seana Smith break down the details. For more expert insight and the latest […]
Tag: Truist
Truist selling last chunk of insurance business. Now what?
Truist’s agreement to offload the rest of its insurance business comes just weeks after it announced a $70 million deal to sell an asset-management subsidiary. Both moves are part of the bank’s strategy to become leaner and more efficient. Credit: Scott McIntyre/Bloomberg Truist Financial is selling its majority stake in the regional bank’s insurance brokerage […]
Truist keeps downsizing with deal to sell asset-management business
Truist is selling Sterling Capital Management, which had $76 billion of assets under management at the end of December. The buyer, Guardian Capital Group, said that Sterling Capital will operate as a standalone entity and continue to be led by its current management team. Credit: Scott McIntyre/Bloomberg Truist Financial intends to sell an asset-management subsidiary, […]