Canada Pension Plan Investment Board cut its stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 14.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 273,384 shares of the insurance provider's stock after selling 47,447 shares during the period. Canada Pension Plan Investment Board's holdings in Truist Financial were worth $11,859,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Truist Financial by 48.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider's stock valued at $129,000 after acquiring an additional 971 shares during the period. Principal Financial Group Inc. increased its stake in shares of Truist Financial by 3.5% in the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider's stock worth $64,638,000 after purchasing an additional 50,637 shares in the last quarter. Country Club Bank boosted its holdings in Truist Financial by 719.8% in the 4th quarter. Country Club Bank now owns 45,499 shares of the insurance provider's stock worth $1,973,000 after buying an additional 39,949 shares during the period. David Wealth Management LLC purchased a new stake in Truist Financial in the 4th quarter worth $2,354,000. Finally, Glass Wealth Management Co LLC lifted its position in shares of Truist Financial by 9.5% in the fourth quarter. Glass Wealth Management Co LLC now owns 67,978 shares of the insurance provider's stock valued at $2,949,000 after acquiring an additional 5,900 shares in the last quarter. Institutional investors own 71.28% of the company's stock.
Truist Financial Stock Down 0.6 %
Truist Financial stock traded down $0.22 during midday trading on Friday, hitting $37.68. 6,386,403 shares of the company's stock were exchanged, compared to its average volume of 8,136,587. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $49.19 billion, a PE ratio of 11.32, a P/E/G ratio of 1.63 and a beta of 0.91. The firm has a 50-day moving average of $40.41 and a two-hundred day moving average of $43.63. Truist Financial Co. has a 12 month low of $33.56 and a 12 month high of $49.06.
Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period last year, the company posted $0.90 earnings per share. As a group, analysts expect that Truist Financial Co. will post 4 earnings per share for the current fiscal year.
Truist Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors 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 dividend yield of 5.52%. Truist Financial's dividend payout ratio (DPR) is presently 61.36%.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on TFC shares. Piper Sandler lowered their price target on Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a report on Monday. Argus set a $43.00 target price on shares of Truist Financial in a research note on Monday. Barclays cut their price objective on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a research report on Monday. Raymond James downgraded Truist Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Finally, StockNews.com upgraded Truist Financial from a "sell" rating to a "hold" rating in a report on Sunday, April 20th. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Truist Financial has an average rating of "Moderate Buy" and a consensus price target of $47.83.
Get Our Latest Research Report on Truist Financial
Truist Financial Company Profile
(
Free Report)
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.
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