Voya Financial Advisors Inc. Increases Stock Position in Truist Financial Co. (NYSE:TFC)

Voya Financial Advisors Inc. grew its stake in Truist Financial Co. (NYSE:TFC) by 1.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 29,744 shares of the insurance provider’s stock after buying an additional 333 shares during the quarter. Voya Financial Advisors Inc.’s holdings in Truist Financial were worth $1,290,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TFC. Hancock Whitney Corp raised its position in Truist Financial by 8.8% during the fourth quarter. Hancock Whitney Corp now owns 53,851 shares of the insurance provider’s stock valued at $2,336,000 after purchasing an additional 4,338 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Truist Financial by 1.6% during the 4th quarter. Voya Investment Management LLC now owns 370,697 shares of the insurance provider’s stock valued at $16,081,000 after purchasing an additional 5,895 shares during the last quarter. Sompo Asset Management Co. Ltd. raised its holdings in shares of Truist Financial by 65.9% during the 4th quarter. Sompo Asset Management Co. Ltd. now owns 106,485 shares of the insurance provider’s stock valued at $4,619,000 after buying an additional 42,295 shares in the last quarter. MGO One Seven LLC lifted its position in Truist Financial by 4.0% in the 4th quarter. MGO One Seven LLC now owns 40,496 shares of the insurance provider’s stock worth $1,757,000 after buying an additional 1,571 shares during the last quarter. Finally, Quantessence Capital LLC purchased a new stake in Truist Financial in the fourth quarter worth approximately $380,000. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TFC. Piper Sandler lowered their price objective on shares of Truist Financial from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Monday. JPMorgan Chase & Co. lowered their price target on shares of Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Morgan Stanley reduced their price objective on Truist Financial from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Monday, April 7th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Sunday, April 20th. Finally, Barclays reduced their price target on Truist Financial from $51.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Monday. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $47.83.

Truist Financial Trading Up 1.9 %

NYSE TFC opened at $37.86 on Friday. The stock’s 50 day moving average is $40.41 and its 200 day moving average is $43.63. The firm has a market capitalization of $49.42 billion, a PE ratio of 11.37, a P/E/G ratio of 1.63 and a beta of 0.91. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a twelve month low of $33.56 and a twelve month high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.87. The company had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same quarter last year, the company earned $0.90 EPS. Research analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 5.49%. Truist Financial’s dividend payout ratio is 61.36%.

About Truist Financial

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.