Capital Group Private Client Services Inc. Sells 7,321 Shares of Truist Financial Co. (NYSE:TFC)

Capital Group Private Client Services Inc. decreased its position in Truist Financial Co. (NYSE:TFC - Free Report) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 710,977 shares of the insurance provider's stock after selling 7,321 shares during the quarter. Capital Group Private Client Services Inc. owned 0.05% of Truist Financial worth $30,842,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital International Investors grew its position in Truist Financial by 26.0% in the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider's stock valued at $3,930,983,000 after purchasing an additional 18,712,246 shares in the last quarter. Capital International Sarl raised its holdings in Truist Financial by 36.4% during the fourth quarter. Capital International Sarl now owns 9,812 shares of the insurance provider's stock worth $426,000 after acquiring an additional 2,620 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Truist Financial by 10.9% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,165,821 shares of the insurance provider's stock valued at $50,559,000 after purchasing an additional 114,776 shares during the last quarter. Fourthstone LLC bought a new position in Truist Financial in the fourth quarter valued at approximately $521,000. Finally, Marshall Wace LLP increased its position in shares of Truist Financial by 92.8% during the 4th quarter. Marshall Wace LLP now owns 3,639,216 shares of the insurance provider's stock worth $157,869,000 after purchasing an additional 1,752,001 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TFC. Robert W. Baird raised shares of Truist Financial from a "neutral" rating to an "outperform" rating and upped their target price for the company from $48.00 to $52.00 in a report on Wednesday, March 5th. StockNews.com upgraded Truist Financial from a "sell" rating to a "hold" rating in a research note on Sunday. Baird R W upgraded shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Hsbc Global Res raised Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods dropped their target price on Truist Financial from $53.00 to $47.00 and set an "outperform" rating for the company in a report on Monday. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.83.

Truist Financial Price Performance

NYSE:TFC traded up $0.98 on Wednesday, hitting $37.32. The company had a trading volume of 3,696,392 shares, compared to its average volume of 8,130,403. Truist Financial Co. has a 52 week low of $33.56 and a 52 week high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $48.72 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 1.63 and a beta of 0.91. The firm has a 50 day moving average of $40.79 and a two-hundred day moving average of $43.71.

Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the business posted $0.90 EPS. On average, research analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.52 per share. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 5.57%. Truist Financial's dividend payout ratio is presently 61.36%.

Truist Financial Profile

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.