Oxford Asset Management LLP Makes New Investment in Truist Financial Co. (NYSE:TFC)

Oxford Asset Management LLP bought a new position in Truist Financial Co. (NYSE:TFC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 17,322 shares of the insurance provider's stock, valued at approximately $751,000.

Other institutional investors have also recently added to or reduced their stakes in the company. World Investment Advisors LLC lifted its position in shares of Truist Financial by 19.4% during the third quarter. World Investment Advisors LLC now owns 14,486 shares of the insurance provider's stock worth $620,000 after purchasing an additional 2,355 shares in the last quarter. Arvest Bank Trust Division acquired a new position in shares of Truist Financial during the third quarter valued at $1,960,000. Wilmington Savings Fund Society FSB increased its position in Truist Financial by 28.3% in the third quarter. Wilmington Savings Fund Society FSB now owns 323,849 shares of the insurance provider's stock worth $13,851,000 after purchasing an additional 71,393 shares during the period. Tidal Investments LLC lifted its position in Truist Financial by 6.9% during the 3rd quarter. Tidal Investments LLC now owns 62,803 shares of the insurance provider's stock valued at $2,686,000 after purchasing an additional 4,029 shares during the period. Finally, Synovus Financial Corp grew its position in shares of Truist Financial by 27.1% during the 3rd quarter. Synovus Financial Corp now owns 556,243 shares of the insurance provider's stock worth $23,791,000 after buying an additional 118,692 shares during the period. 71.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TFC has been the topic of a number of analyst reports. Baird R W raised Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. StockNews.com cut Truist Financial from a "hold" rating to a "sell" rating in a report on Monday. Keefe, Bruyette & Woods lowered their price target on Truist Financial from $53.00 to $47.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. HSBC raised shares of Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 price objective on the stock in a research note on Tuesday, January 7th. Finally, Piper Sandler reduced their price target on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $47.83.

Truist Financial Trading Down 1.0 %

Shares of Truist Financial stock traded down $0.39 on Wednesday, reaching $38.37. 7,391,273 shares of the company's stock were exchanged, compared to its average volume of 9,544,335. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a 52 week low of $33.56 and a 52 week high of $49.06. The firm's 50-day moving average is $39.87 and its two-hundred day moving average is $43.55. The company has a market capitalization of $50.09 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting analysts' consensus estimates of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $4.95 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter last year, the firm posted $0.90 earnings per share. Sell-side analysts predict that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 9th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.42%. 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.