American Assets Investment Management LLC grew its holdings in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 8.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 384,000 shares of the insurance provider’s stock after purchasing an additional 30,000 shares during the period. Truist Financial comprises about 1.2% of American Assets Investment Management LLC’s portfolio, making the stock its 16th biggest position. American Assets Investment Management LLC’s holdings in Truist Financial were worth $10,986,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of TFC. EPG Wealth Management LLC grew its stake in Truist Financial by 1.8% during the 4th quarter. EPG Wealth Management LLC now owns 12,219 shares of the insurance provider’s stock worth $526,000 after buying an additional 213 shares during the last quarter. Williams Jones Wealth Management LLC. grew its position in Truist Financial by 5.8% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 4,850 shares of the insurance provider’s stock worth $275,000 after purchasing an additional 268 shares during the last quarter. Financial Advocates Investment Management increased its stake in shares of Truist Financial by 3.5% in the fourth quarter. Financial Advocates Investment Management now owns 9,071 shares of the insurance provider’s stock valued at $390,000 after purchasing an additional 306 shares during the period. SVB Wealth LLC raised its holdings in shares of Truist Financial by 7.9% during the second quarter. SVB Wealth LLC now owns 4,568 shares of the insurance provider’s stock valued at $217,000 after buying an additional 335 shares during the last quarter. Finally, Cape Investment Advisory Inc. grew its holdings in Truist Financial by 7.4% in the 3rd quarter. Cape Investment Advisory Inc. now owns 4,849 shares of the insurance provider’s stock worth $139,000 after buying an additional 335 shares in the last quarter. 71.11% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on TFC. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 19th. Morgan Stanley raised their target price on shares of Truist Financial from $38.00 to $43.00 and gave the company an “equal weight” rating in a research note on Tuesday. UBS Group increased their price objective on shares of Truist Financial from $37.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Piper Sandler raised their target price on Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. Finally, Bank of America raised Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Thursday, January 4th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.87.
Read Our Latest Research Report on TFC
Truist Financial Stock Up 0.5 %
Shares of Truist Financial stock traded up $0.20 during midday trading on Friday, hitting $36.70. The company’s stock had a trading volume of 8,137,513 shares, compared to its average volume of 10,442,766. The firm has a market capitalization of $48.95 billion, a P/E ratio of -33.81, a PEG ratio of 1.55 and a beta of 1.09. The stock has a 50-day simple moving average of $35.95 and a 200-day simple moving average of $32.06. 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 1-year low of $25.56 and a 1-year high of $50.52.
Truist Financial (NYSE:TFC – Get Free Report) last announced its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 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 analyst estimates 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 period last year, the company posted $1.30 EPS. As a group, sell-side analysts expect that Truist Financial Co. will post 3.41 earnings per share for the current year.
Truist Financial Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 9th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date of this dividend is Thursday, February 8th. Truist Financial’s dividend payout ratio (DPR) is currently -192.59%.
About Truist Financial
Truist Financial Corporation, a holding 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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