NFJ Investment Group LLC decreased its position in shares of Truist Financial Corporation (NYSE:TFC – Free Report) by 14.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 486,958 shares of the insurance provider’s stock after selling 84,941 shares during the quarter. NFJ Investment Group LLC’s holdings in Truist Financial were worth $23,963,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Focus Partners Wealth lifted its position in Truist Financial by 345.0% during the fourth quarter. Focus Partners Wealth now owns 854,472 shares of the insurance provider’s stock worth $41,988,000 after purchasing an additional 662,468 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Truist Financial by 102.6% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,703,571 shares of the insurance provider’s stock worth $83,833,000 after purchasing an additional 862,527 shares during the period. Huber Capital Management LLC lifted its position in Truist Financial by 11.0% during the fourth quarter. Huber Capital Management LLC now owns 201,464 shares of the insurance provider’s stock worth $9,914,000 after purchasing an additional 20,000 shares during the period. Landscape Capital Management L.L.C. lifted its position in Truist Financial by 143.4% during the fourth quarter. Landscape Capital Management L.L.C. now owns 20,359 shares of the insurance provider’s stock worth $1,002,000 after purchasing an additional 11,994 shares during the period. Finally, Dymon Asia Capital Singapore PTE. LTD. bought a new stake in Truist Financial during the fourth quarter worth about $994,000. Institutional investors own 71.28% of the company’s stock.
Analyst Ratings Changes
Several research firms recently weighed in on TFC. Wall Street Zen cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Saturday. Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 target price for the company. in a report on Friday, May 1st. Jefferies Financial Group reissued a “mixed” rating and issued a $45.00 target price on shares of Truist Financial in a report on Friday, April 17th. Weiss Ratings raised shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Finally, Royal Bank Of Canada increased their target price on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and an average target price of $55.59.
Truist Financial Stock Up 1.9%
TFC stock opened at $51.63 on Friday. The stock has a market capitalization of $64.33 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 0.88 and a beta of 0.89. 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 Corporation has a 12 month low of $38.83 and a 12 month high of $56.19. The firm has a 50-day moving average price of $49.10 and a 200-day moving average price of $49.16.
Truist Financial (NYSE:TFC – Get Free Report) last posted its earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.87 earnings per share. As a group, equities research analysts anticipate that Truist Financial Corporation will post 4.52 EPS for the current fiscal year.
Truist Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is 51.61%.
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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