Fifth Third Wealth Advisors LLC increased its holdings in shares of Truist Financial Corporation (NYSE:TFC – Free Report) by 232.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 76,644 shares of the insurance provider’s stock after purchasing an additional 53,608 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Truist Financial were worth $3,523,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of TFC. Vanguard Group Inc. increased its position in shares of Truist Financial by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 119,740,969 shares of the insurance provider’s stock worth $5,892,453,000 after acquiring an additional 701,049 shares in the last quarter. Capital International Investors raised its holdings in shares of Truist Financial by 0.7% during the fourth quarter. Capital International Investors now owns 108,358,164 shares of the insurance provider’s stock worth $5,332,835,000 after acquiring an additional 715,433 shares during the period. Victory Capital Management Inc. lifted its position in Truist Financial by 7.5% in the 4th quarter. Victory Capital Management Inc. now owns 31,964,393 shares of the insurance provider’s stock valued at $1,572,968,000 after acquiring an additional 2,226,288 shares in the last quarter. Morgan Stanley lifted its position in Truist Financial by 2.9% in the 4th quarter. Morgan Stanley now owns 20,931,279 shares of the insurance provider’s stock valued at $1,030,028,000 after acquiring an additional 597,255 shares in the last quarter. Finally, Auto Owners Insurance Co boosted its stake in Truist Financial by 4,821.0% in the 4th quarter. Auto Owners Insurance Co now owns 14,172,480 shares of the insurance provider’s stock worth $697,428,000 after purchasing an additional 13,884,480 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.
Truist Financial Stock Performance
Shares of TFC opened at $50.63 on Friday. The stock has a market capitalization of $63.08 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 0.85 and a beta of 0.89. Truist Financial Corporation has a 12 month low of $40.78 and a 12 month high of $56.19. The firm has a fifty day simple moving average of $49.15 and a 200 day simple moving average of $49.33. 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 announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. Truist Financial’s payout ratio is currently 51.61%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on TFC shares. Morgan Stanley lowered their target price on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, April 20th. 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 report on Friday, May 1st. Royal Bank Of Canada upped their price objective on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Stephens assumed coverage on Truist Financial in a research report on Monday, June 15th. They issued an “overweight” rating and a $59.00 target price on the stock. Finally, Jefferies Financial Group reissued a “mixed” rating and issued a $45.00 target price on shares of Truist Financial in a research report on Friday, April 17th. Ten analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.79.
Get Our Latest Analysis on Truist Financial
About Truist Financial
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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