Sompo Asset Management Co. Ltd. Buys 27,020 Shares of Truist Financial Co. (NYSE:TFC)

Sompo Asset Management Co. Ltd. lifted its holdings in Truist Financial Co. (NYSE:TFC - Free Report) by 72.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,190 shares of the insurance provider's stock after acquiring an additional 27,020 shares during the period. Sompo Asset Management Co. Ltd.'s holdings in Truist Financial were worth $2,745,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. LRI Investments LLC purchased a new stake in shares of Truist Financial during the first quarter worth about $115,000. Price T Rowe Associates Inc. MD raised its position in shares of Truist Financial by 1.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,489,411 shares of the insurance provider's stock worth $136,018,000 after purchasing an additional 58,349 shares during the period. SVB Wealth LLC boosted its position in Truist Financial by 31.5% during the 1st quarter. SVB Wealth LLC now owns 27,379 shares of the insurance provider's stock valued at $1,067,000 after purchasing an additional 6,552 shares during the period. Waverly Advisors LLC grew its stake in Truist Financial by 1.9% during the 1st quarter. Waverly Advisors LLC now owns 58,234 shares of the insurance provider's stock worth $2,270,000 after buying an additional 1,112 shares during the last quarter. Finally, BlueMar Capital Management LLC acquired a new stake in Truist Financial in the first quarter worth $546,000. Hedge funds and other institutional investors own 71.28% of the company's stock.

Truist Financial Trading Up 2.5 %

Shares of Truist Financial stock traded up $1.15 during trading hours on Friday, hitting $47.96. The company's stock had a trading volume of 8,587,856 shares, compared to its average volume of 8,504,333. Truist Financial Co. has a 12 month low of $31.23 and a 12 month high of $48.06. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $63.67 billion, a PE ratio of -33.54, a price-to-earnings-growth ratio of 1.92 and a beta of 1.05. The stock has a 50 day moving average of $43.68 and a 200 day moving average of $41.53.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.08. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. Analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.52 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.34%. Truist Financial's dividend payout ratio is presently -145.45%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Stephens reaffirmed an "overweight" rating and issued a $50.00 price objective on shares of Truist Financial in a report on Tuesday, September 10th. Compass Point raised their price target on shares of Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on Truist Financial from $43.50 to $47.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 16th. UBS Group raised their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the company a "buy" rating in a research report on Friday, October 18th. Finally, StockNews.com upgraded shares of Truist Financial from a "sell" rating to a "hold" rating in a report on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, Truist Financial currently has a consensus rating of "Hold" and a consensus target price of $46.37.

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.