Dodge & Cox Has $2.44 Million Stock Holdings in Truist Financial Co. (NYSE:TFC)

Dodge & Cox decreased its position in Truist Financial Co. (NYSE:TFC - Free Report) by 99.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,346 shares of the insurance provider's stock after selling 25,693,714 shares during the quarter. Dodge & Cox's holdings in Truist Financial were worth $2,444,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in TFC. Jump Financial LLC raised its holdings in Truist Financial by 1,141.4% during the fourth quarter. Jump Financial LLC now owns 76,083 shares of the insurance provider's stock valued at $3,300,000 after buying an additional 69,954 shares in the last quarter. Guggenheim Capital LLC lifted its holdings in Truist Financial by 7.3% in the 4th quarter. Guggenheim Capital LLC now owns 359,510 shares of the insurance provider's stock worth $15,596,000 after purchasing an additional 24,548 shares during the last quarter. Canada Post Corp Registered Pension Plan bought a new stake in Truist Financial during the fourth quarter worth approximately $7,937,000. Broyhill Asset Management acquired a new position in Truist Financial during the fourth quarter valued at approximately $693,000. Finally, Mariner LLC raised its position in shares of Truist Financial by 1.5% in the fourth quarter. Mariner LLC now owns 432,961 shares of the insurance provider's stock valued at $18,782,000 after purchasing an additional 6,340 shares during the period. Institutional investors and hedge funds own 71.28% of the company's stock.

Truist Financial Price Performance

Shares of Truist Financial stock traded down $0.68 during mid-day trading on Monday, reaching $35.22. 1,804,957 shares of the stock were exchanged, compared to its average volume of 8,136,142. The company has a market cap of $45.98 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. Truist Financial Co. has a fifty-two week low of $33.56 and a fifty-two 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 firm has a 50-day simple moving average of $41.21 and a 200 day simple moving average of $43.81.

Truist Financial (NYSE:TFC - Get Free Report) last announced its earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting the consensus estimate of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the previous year, the business earned $0.90 EPS. On average, sell-side analysts predict that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.91%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial's payout ratio is presently 61.36%.

Analyst Ratings Changes

Several analysts recently issued reports on TFC shares. HSBC raised shares of Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. 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 research report on Monday. Citigroup cut their price objective 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. Baird R W raised Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Finally, Hsbc Global Res upgraded Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 7th. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $49.44.

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.