Strs Ohio grew its stake in Truist Financial Co. (NYSE:TFC – Free Report) by 7.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 727,578 shares of the insurance provider’s stock after purchasing an additional 49,275 shares during the period. Strs Ohio owned approximately 0.05% of Truist Financial worth $26,862,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Bleakley Financial Group LLC grew its stake in shares of Truist Financial by 6.1% in the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock valued at $1,104,000 after purchasing an additional 1,731 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Truist Financial by 53.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock worth $12,515,000 after acquiring an additional 117,524 shares during the last quarter. International Assets Investment Management LLC grew its position in Truist Financial by 3,359.6% during the 4th quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock worth $38,602,000 after acquiring an additional 1,015,338 shares during the last quarter. Douglas Lane & Associates LLC grew its position in Truist Financial by 6.3% during the 3rd quarter. Douglas Lane & Associates LLC now owns 1,544,537 shares of the insurance provider’s stock worth $44,189,000 after acquiring an additional 91,579 shares during the last quarter. Finally, Loudon Investment Management LLC grew its position in Truist Financial by 18.5% during the 3rd quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock worth $3,759,000 after acquiring an additional 20,490 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods increased their price target on Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Stephens upgraded Truist Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $41.00 to $43.00 in a research report on Tuesday, March 19th. Barclays upped their price objective on Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Bank of America raised Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Thursday, January 4th. Finally, HSBC upped their price objective on Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.47.
Read Our Latest Stock Analysis on Truist Financial
Truist Financial Trading Down 2.9 %
Truist Financial stock traded down $1.07 during mid-day trading on Tuesday, hitting $35.63. 12,902,675 shares of the company’s stock were exchanged, compared to its average volume of 9,731,204. The company’s 50 day simple moving average is $36.62 and its 200-day simple moving average is $34.36. The firm has a market capitalization of $47.55 billion, a P/E ratio of -32.99, a PEG ratio of 2.27 and a beta of 1.08. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. Truist Financial Co. has a fifty-two week low of $25.56 and a fifty-two week high of $39.29.
Truist Financial (NYSE:TFC – Get Free Report) last released its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same quarter in the prior year, the company earned $1.30 EPS. On average, equities analysts anticipate that Truist Financial Co. will post 3.33 earnings per share for the current year.
Truist Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.84%. The ex-dividend date was Thursday, February 8th. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.
Insiders Place Their Bets
In other news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the transaction, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.17% of the company’s stock.
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.
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