Global Retirement Partners LLC boosted its holdings in Truist Financial Corporation (NYSE:TFC – Free Report) by 32.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 86,528 shares of the insurance provider’s stock after acquiring an additional 21,388 shares during the quarter. Global Retirement Partners LLC’s holdings in Truist Financial were worth $4,258,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the business. IFP Advisors Inc boosted its stake in Truist Financial by 2.4% in the fourth quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock valued at $404,000 after buying an additional 194 shares in the last quarter. AlphaCore Capital LLC boosted its stake in Truist Financial by 8.3% in the fourth quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock valued at $128,000 after buying an additional 199 shares in the last quarter. Alliance Wealth Advisors LLC boosted its stake in Truist Financial by 1.8% in the fourth quarter. Alliance Wealth Advisors LLC now owns 11,298 shares of the insurance provider’s stock valued at $556,000 after buying an additional 205 shares in the last quarter. Private Trust Co. NA boosted its stake in Truist Financial by 1.2% in the fourth quarter. Private Trust Co. NA now owns 18,778 shares of the insurance provider’s stock valued at $924,000 after buying an additional 215 shares in the last quarter. Finally, Aspiriant LLC boosted its stake in Truist Financial by 2.3% in the fourth quarter. Aspiriant LLC now owns 9,721 shares of the insurance provider’s stock valued at $478,000 after buying an additional 219 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.
Truist Financial Stock Performance
Shares of TFC stock opened at $47.92 on Friday. The business’s 50-day moving average price is $47.81 and its 200-day moving average price is $48.72. Truist Financial Corporation has a 12 month low of $38.27 and a 12 month high of $56.19. The firm has a market capitalization of $59.70 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 0.82 and a beta of 0.92. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70.
Truist Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, May 8th. Truist Financial’s payout ratio is currently 51.61%.
Analysts Set New Price Targets
TFC has been the topic of several research analyst reports. Argus raised their price objective on Truist Financial from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research note on Friday, May 1st. JPMorgan Chase & Co. cut their price target on Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Piper Sandler lifted their price target on Truist Financial from $50.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, January 22nd. Finally, Evercore reissued an “outperform” rating on shares of Truist Financial in a research note on Thursday, February 5th. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.59.
Read Our Latest Stock Analysis on TFC
Truist Financial Profile
Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.
Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.
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