Ameriprise Financial Inc. lessened its holdings in Truist Financial Co. (NYSE:TFC - Free Report) by 10.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,611,003 shares of the insurance provider's stock after selling 178,349 shares during the period. Ameriprise Financial Inc. owned about 0.12% of Truist Financial worth $69,884,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Hopwood Financial Services Inc. acquired a new stake in shares of Truist Financial in the fourth quarter valued at $26,000. Navigoe LLC acquired a new stake in shares of Truist Financial in the fourth quarter valued at $26,000. Curio Wealth LLC acquired a new stake in shares of Truist Financial in the fourth quarter valued at $45,000. City State Bank raised its stake in shares of Truist Financial by 158.1% in the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider's stock valued at $51,000 after acquiring an additional 716 shares in the last quarter. Finally, Brown Lisle Cummings Inc. purchased a new position in Truist Financial in the fourth quarter valued at $55,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on TFC shares. Stephens dropped their target price on Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Raymond James lowered Truist Financial from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Wells Fargo & Company dropped their price objective on Truist Financial from $52.00 to $50.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Robert W. Baird raised Truist Financial from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $48.00 to $52.00 in a report on Wednesday, March 5th. Finally, StockNews.com raised Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Truist Financial currently has a consensus rating of "Moderate Buy" and an average price target of $48.06.
Get Our Latest Stock Analysis on TFC
Truist Financial Price Performance
Shares of TFC traded up $0.21 during mid-day trading on Tuesday, reaching $41.33. 6,226,934 shares of the company's stock were exchanged, compared to its average volume of 8,197,585. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a 50-day simple moving average of $38.82 and a two-hundred day simple moving average of $43.29. Truist Financial Co. has a 52-week low of $33.56 and a 52-week high of $49.06. The company has a market cap of $54.12 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 1.63 and a beta of 0.83.
Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. The company had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same period in the previous year, the firm posted $0.90 EPS. On average, sell-side analysts predict that Truist Financial Co. will post 4 EPS for the current fiscal year.
Truist Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 9th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.03%. Truist Financial's dividend payout ratio is presently 61.36%.
About Truist Financial
(
Free Report)
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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