First Trust Advisors LP raised its position in Truist Financial Co. (NYSE:TFC - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,493,733 shares of the insurance provider's stock after buying an additional 96,648 shares during the period. First Trust Advisors LP owned 0.19% of Truist Financial worth $108,178,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of TFC. PBMares Wealth Management LLC boosted its position in shares of Truist Financial by 0.8% during the fourth quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider's stock worth $1,270,000 after buying an additional 224 shares during the period. Koshinski Asset Management Inc. grew its stake in shares of Truist Financial by 2.1% in the fourth quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider's stock worth $470,000 after purchasing an additional 225 shares in the last quarter. Aaron Wealth Advisors LLC raised its stake in shares of Truist Financial by 3.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider's stock valued at $335,000 after purchasing an additional 227 shares in the last quarter. FWG Holdings LLC grew its position in Truist Financial by 4.3% in the 4th quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider's stock valued at $267,000 after buying an additional 234 shares in the last quarter. Finally, Ignite Planners LLC increased its stake in Truist Financial by 1.4% during the 4th quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider's stock valued at $772,000 after buying an additional 246 shares during the period. Institutional investors own 71.28% of the company's stock.
Truist Financial Stock Performance
Shares of TFC traded down $0.22 during trading hours on Friday, reaching $37.68. 6,386,403 shares of the company traded hands, compared to its average volume of 8,136,587. Truist Financial Co. has a 1-year low of $33.56 and a 1-year high of $49.06. The stock has a market cap of $49.19 billion, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. The stock's fifty day moving average is $40.41 and its 200 day moving average is $43.63. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.
Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting analysts' consensus estimates of $0.87. The company had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same quarter last year, the company earned $0.90 EPS. Equities research analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.
Truist Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date was Friday, February 14th. Truist Financial's dividend payout ratio is 61.36%.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on TFC shares. Barclays cut their target price on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a research report on Monday. Citigroup dropped their target price on shares of Truist Financial from $51.00 to $44.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Argus set a $43.00 price target on Truist Financial in a report on Monday. Wells Fargo & Company cut their target price on Truist Financial from $52.00 to $50.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Truist Financial from $53.00 to $47.00 and set an "outperform" rating for the company in a research note on Monday. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $47.83.
Get Our Latest Analysis on TFC
About Truist Financial
(
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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