Rockefeller Capital Management L.P. Has $15.31 Million Holdings in Truist Financial Co. (NYSE:TFC)

Rockefeller Capital Management L.P. lowered its position in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 352,938 shares of the insurance provider's stock after selling 19,203 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Truist Financial were worth $15,310,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of Truist Financial by 1.9% in the 4th 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 lifted its stake in Truist Financial by 6.5% in the fourth quarter. Amundi now owns 23,683,345 shares of the insurance provider's stock valued at $1,040,718,000 after buying an additional 1,450,323 shares during the period. FMR LLC grew its position in shares of 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 buying an additional 5,457,053 shares during the period. Invesco Ltd. increased its stake in shares of Truist Financial by 12.4% in the 4th quarter. Invesco Ltd. now owns 9,951,283 shares of the insurance provider's stock valued at $431,687,000 after acquiring an additional 1,101,256 shares during the last quarter. Finally, American Century Companies Inc. raised its position 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 acquiring an additional 722,749 shares during the period. Institutional investors own 71.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TFC. HSBC raised shares of Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a research note on Tuesday, January 7th. Raymond James downgraded Truist Financial from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. Robert W. Baird upgraded Truist Financial from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $48.00 to $52.00 in a report on Wednesday, March 5th. Stephens raised their price target on Truist Financial from $54.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company decreased their price objective on Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Nine 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $50.22.

Truist Financial Stock Performance

Truist Financial stock traded down $0.12 during midday trading on Friday, reaching $35.88. 15,140,727 shares of the company's stock were exchanged, compared to its average volume of 8,160,528. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The stock's 50-day simple moving average is $41.21 and its 200 day simple moving average is $43.81. The firm has a market cap of $46.83 billion, a price-to-earnings ratio of 10.77, a P/E/G ratio of 1.63 and a beta of 0.91. Truist Financial Co. has a 52 week low of $33.56 and a 52 week high of $49.06.

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, hitting analysts' consensus estimates 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 analyst estimates of $4.99 billion. During the same period in the previous year, the firm earned $0.90 EPS. On average, analysts expect that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.80%. The ex-dividend date was Friday, February 14th. Truist Financial's payout ratio is 61.36%.

About Truist Financial

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.