Belpointe Asset Management LLC Sells 10,009 Shares of Truist Financial Co. (NYSE:TFC)

Belpointe Asset Management LLC lessened its position in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 44.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,524 shares of the insurance provider's stock after selling 10,009 shares during the period. Belpointe Asset Management LLC's holdings in Truist Financial were worth $557,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in Truist Financial during the fourth quarter worth approximately $402,828,000. FMR LLC grew its holdings in Truist Financial by 109.1% in the fourth quarter. FMR LLC now owns 10,460,159 shares of the insurance provider's stock worth $453,762,000 after purchasing an additional 5,457,053 shares during the period. Raymond James Financial Inc. bought a new stake in Truist Financial in the fourth quarter valued at $198,051,000. Amundi boosted its position in shares of Truist Financial by 6.5% during the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider's stock worth $1,040,718,000 after purchasing an additional 1,450,323 shares in the last quarter. Finally, Invesco Ltd. increased its position in Truist Financial by 12.4% in the 4th quarter. Invesco Ltd. now owns 9,951,283 shares of the insurance provider's stock valued at $431,687,000 after buying an additional 1,101,256 shares in the last quarter. Institutional investors own 71.28% of the company's stock.

Truist Financial Stock Performance

Shares of NYSE:TFC traded up $0.61 during trading on Tuesday, hitting $35.92. 831,706 shares of the company were exchanged, compared to its average volume of 8,139,562. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a 52-week low of $33.56 and a 52-week high of $49.06. The company has a market cap of $46.88 billion, a PE ratio of 10.79, a P/E/G ratio of 1.63 and a beta of 0.91. The stock has a 50 day moving average of $40.99 and a 200 day moving average of $43.76.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. As a group, equities research analysts predict that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.79%. Truist Financial's dividend payout ratio (DPR) is presently 61.36%.

Analyst Ratings Changes

Several equities research analysts have recently commented on TFC shares. Baird R W upgraded Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Barclays reduced their price objective on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a report on Monday. StockNews.com upgraded Truist Financial from a "sell" rating to a "hold" rating in a research note on Sunday. Piper Sandler dropped their target price on Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a report on Monday. Finally, Citigroup lowered their price target on Truist Financial from $51.00 to $44.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. 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's stock. Based on data from MarketBeat.com, Truist Financial currently has an average rating of "Moderate Buy" and a consensus price target of $48.28.

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.