MUFG Securities EMEA plc lifted its position in Truist Financial Corporation (NYSE:TFC – Free Report) by 112.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 52,444 shares of the insurance provider’s stock after acquiring an additional 27,763 shares during the quarter. MUFG Securities EMEA plc’s holdings in Truist Financial were worth $2,581,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in TFC. Brighton Jones LLC lifted its position in shares of Truist Financial by 148.5% in the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after acquiring an additional 14,093 shares in the last quarter. Woodline Partners LP increased its stake in Truist Financial by 39.5% in the 1st quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock valued at $4,575,000 after buying an additional 31,454 shares during the period. Sivia Capital Partners LLC acquired a new position in Truist Financial in the 2nd quarter valued at approximately $575,000. AXA S.A. increased its stake in Truist Financial by 23.1% in the 2nd quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock valued at $1,126,000 after buying an additional 4,921 shares during the period. Finally, Main Street Financial Solutions LLC increased its stake in Truist Financial by 20.1% in the 2nd quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock valued at $292,000 after buying an additional 1,134 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.
Truist Financial Price Performance
NYSE TFC opened at $46.90 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The company has a fifty day simple moving average of $48.34 and a 200 day simple moving average of $48.90. The company has a market cap of $58.43 billion, a P/E ratio of 11.64, a P/E/G ratio of 0.82 and a beta of 0.89. Truist Financial Corporation has a 1 year low of $38.67 and a 1 year high of $56.19.
Truist Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Friday, May 8th. Truist Financial’s dividend payout ratio is currently 51.61%.
Analyst Ratings Changes
Several research analysts have weighed in on TFC shares. Robert W. Baird lowered shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research note on Friday, May 1st. Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Morgan Stanley dropped their price objective on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a research note on Monday, April 20th. Jefferies Financial Group reiterated a “mixed” rating and issued a $45.00 price objective on shares of Truist Financial in a research note on Friday, April 17th. Finally, Evercore reiterated an “outperform” rating on shares of Truist Financial in a research note on Thursday, February 5th. Nine research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and an average target price of $55.59.
Read Our Latest 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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