Truist Financial Co. (NYSE:TFC) Shares Sold by Legal & General Group Plc

Legal & General Group Plc decreased its position in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 19.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,013,204 shares of the insurance provider's stock after selling 1,924,650 shares during the period. Legal & General Group Plc owned approximately 0.60% of Truist Financial worth $347,613,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Truist Financial by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider's stock valued at $1,210,348,000 after purchasing an additional 534,740 shares during the period. Amundi grew its stake in Truist Financial by 6.5% in the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider's stock worth $1,040,718,000 after acquiring an additional 1,450,323 shares in the last quarter. FMR LLC increased its holdings in Truist Financial by 109.1% during the 4th quarter. FMR LLC now owns 10,460,159 shares of the insurance provider's stock worth $453,762,000 after purchasing an additional 5,457,053 shares during the period. Invesco Ltd. increased its stake in shares of Truist Financial by 12.4% during the fourth quarter. Invesco Ltd. now owns 9,951,283 shares of the insurance provider's stock valued at $431,687,000 after buying an additional 1,101,256 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Truist Financial by 7.9% in the 4th quarter. American Century Companies Inc. now owns 9,882,885 shares of the insurance provider's stock valued at $428,720,000 after purchasing an additional 722,749 shares in the last quarter. Institutional investors own 71.28% of the company's stock.

Truist Financial Price Performance

Shares of Truist Financial stock traded up $0.53 on Monday, hitting $35.92. 2,691,204 shares of the company were exchanged, compared to its average volume of 8,114,849. The company has a 50-day moving average price of $42.36 and a 200 day moving average price of $44.02. The stock has a market capitalization of $46.89 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 1-year low of $33.56 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. Truist Financial's revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.81 EPS. As a group, sell-side 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 announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.79%. The ex-dividend date was Friday, February 14th. Truist Financial's dividend payout ratio (DPR) is presently 62.46%.

Analyst Ratings Changes

A number of brokerages recently weighed in on TFC. Stephens upped their price objective on Truist Financial from $54.00 to $57.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 21st. StockNews.com downgraded Truist Financial from a "hold" rating to a "sell" rating in a research report on Saturday. Wells Fargo & Company reduced their price target on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. JPMorgan Chase & Co. dropped their target price on Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Finally, Raymond James lowered shares of Truist Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $50.22.

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.