Caisse DE Depot ET Placement DU Quebec Purchases 498,531 Shares of Truist Financial Co. (NYSE:TFC)

Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 81.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,108,466 shares of the insurance provider's stock after buying an additional 498,531 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.08% of Truist Financial worth $48,085,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TFC. Capital International Investors raised its stake in shares of Truist Financial by 26.0% during the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider's stock worth $3,930,983,000 after buying an additional 18,712,246 shares during the period. Norges Bank acquired a new stake in shares of Truist Financial in the fourth quarter valued at about $402,828,000. FMR LLC grew its stake in Truist Financial by 109.1% during the 4th quarter. FMR LLC now owns 10,460,159 shares of the insurance provider's stock valued at $453,762,000 after acquiring an additional 5,457,053 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Truist Financial during the 4th quarter worth approximately $198,051,000. Finally, Northern Trust Corp lifted its position in Truist Financial by 20.5% during the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock worth $626,154,000 after buying an additional 2,452,239 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Down 0.8 %

Shares of Truist Financial stock traded down $0.33 during trading on Tuesday, hitting $39.02. 7,127,855 shares of the stock traded hands, compared to its average volume of 8,159,181. The stock has a market cap of $51.10 billion, a P/E ratio of 11.72, a PEG ratio of 1.63 and a beta of 0.83. The company has a fifty day moving average price of $39.36 and a two-hundred day moving average price of $43.41. Truist Financial Co. has a twelve month low of $33.56 and a twelve month high of $49.06. 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 (NYSE:TFC - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting analysts' consensus estimates of $0.87. The business had revenue of $4.95 billion for the quarter, compared to analyst estimates 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 company posted $0.90 earnings per share. Equities research analysts predict that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed 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. This represents a $2.08 annualized dividend and a yield of 5.33%. The ex-dividend date of this dividend is Friday, May 9th. Truist Financial's dividend payout ratio (DPR) is presently 61.36%.

Analyst Ratings Changes

TFC has been the subject of a number of recent analyst reports. Hsbc Global Res upgraded shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. Piper Sandler decreased their target price on Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Stephens cut their price target on Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. StockNews.com lowered shares of Truist Financial from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. Finally, Keefe, Bruyette & Woods lowered their target price on Truist Financial from $53.00 to $47.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $47.83.

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.