Sompo Asset Management Co. Ltd. Increases Holdings in Truist Financial Co. (NYSE:TFC)

Sompo Asset Management Co. Ltd. lifted its holdings in Truist Financial Co. (NYSE:TFC - Free Report) by 65.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 106,485 shares of the insurance provider's stock after purchasing an additional 42,295 shares during the period. Sompo Asset Management Co. Ltd.'s holdings in Truist Financial were worth $4,619,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Truist Financial by 48.7% in the fourth 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 in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Truist Financial by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider's stock valued at $64,638,000 after buying an additional 50,637 shares during the period. Country Club Bank grew its position in Truist Financial by 719.8% during the fourth quarter. Country Club Bank now owns 45,499 shares of the insurance provider's stock valued at $1,973,000 after buying an additional 39,949 shares during the period. David Wealth Management LLC acquired a new position in Truist Financial in the 4th quarter worth about $2,354,000. Finally, Glass Wealth Management Co LLC boosted its position in Truist Financial by 9.5% during the fourth quarter. Glass Wealth Management Co LLC now owns 67,978 shares of the insurance provider's stock worth $2,949,000 after purchasing an additional 5,900 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Baird R W upgraded Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. HSBC raised Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 price objective for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their price objective on Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Barclays decreased their price target on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a research report on Monday. Finally, Stephens reduced their target price on shares of Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Truist Financial presently has a consensus rating of "Moderate Buy" and an average target price of $47.83.

Truist Financial Price Performance

Truist Financial stock opened at $36.34 on Wednesday. The company has a market cap of $47.44 billion, a P/E ratio of 10.91, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. Truist Financial Co. has a one year low of $33.56 and a one year high of $49.06. The business has a fifty day moving average of $40.79 and a two-hundred day moving average of $43.71. 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 posted its earnings results 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 analyst estimates of $4.99 billion. During the same quarter in the prior year, the company earned $0.90 earnings per share. As a group, analysts predict that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed 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. This represents a $2.08 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date of this dividend was Friday, February 14th. 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.

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