LifeWealth Investments LLC Buys New Stake in Truist Financial Co. (NYSE:TFC)

LifeWealth Investments LLC purchased a new position in shares of Truist Financial Co. (NYSE:TFC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,323 shares of the insurance provider's stock, valued at approximately $318,000.

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

Truist Financial Stock Performance

NYSE TFC traded down $0.67 on Wednesday, hitting $39.36. 8,109,159 shares of the company's stock traded hands, compared to its average volume of 8,277,360. The firm's 50-day moving average price is $38.68 and its two-hundred day moving average price is $43.00. The firm has a market capitalization of $51.54 billion, a PE ratio of 11.82, a P/E/G ratio of 1.63 and a beta of 0.83. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 1-year low of $33.56 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last issued its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. 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 company posted $0.90 earnings per share. As a group, analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 9th will be paid a $0.52 dividend. The ex-dividend date is Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.28%. Truist Financial's payout ratio is 61.36%.

Analyst Ratings Changes

TFC has been the subject of several recent research reports. Argus set a $43.00 price target on Truist Financial in a research report on Monday, April 21st. Wells Fargo & Company lowered their price target on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Wall Street Zen raised shares of Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Raymond James cut shares of Truist Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Finally, Barclays lowered their target price on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.