Newbridge Financial Services Group Inc. reduced its stake in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 57.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,500 shares of the insurance provider’s stock after selling 2,016 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Truist Financial were worth $55,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Truist Financial by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock worth $3,355,141,000 after purchasing an additional 365,871 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Truist Financial by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock worth $690,793,000 after acquiring an additional 1,458,248 shares in the last quarter. Royal Bank of Canada grew its holdings in Truist Financial by 5.0% during the 3rd quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock valued at $440,162,000 after buying an additional 732,801 shares in the last quarter. Morgan Stanley grew its holdings in Truist Financial by 0.3% during the 3rd quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock valued at $439,568,000 after buying an additional 39,510 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Truist Financial by 11.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,731,538 shares of the insurance provider’s stock valued at $322,395,000 after buying an additional 883,416 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Morgan Stanley restated an “equal weight” rating and set a $43.00 price target on shares of Truist Financial in a research note on Monday, April 22nd. Stephens raised their price target on Truist Financial from $43.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. HSBC lifted their target price on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Finally, TheStreet lowered Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $43.17.
View Our Latest Stock Analysis on Truist Financial
Truist Financial Trading Up 2.2 %
Truist Financial stock opened at $36.57 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. Truist Financial Co. has a 12 month low of $26.57 and a 12 month high of $40.51. The stock’s 50 day simple moving average is $37.77 and its two-hundred day simple moving average is $36.98. The firm has a market cap of $48.93 billion, a PE ratio of -27.70, a P/E/G ratio of 1.77 and a beta of 1.06.
Truist Financial (NYSE:TFC – Get Free Report) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the firm posted $1.09 EPS. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. Analysts anticipate that Truist Financial Co. will post 3.36 earnings per share for the current year.
Truist Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 10th were given a $0.52 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.69%. Truist Financial’s dividend payout ratio is presently -157.58%.
Truist Financial Company 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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Source: defenseworld.net
