Truist Financial Corporation (NYSE:TFC) Stock Holdings Increased by AE Wealth Management LLC

AE Wealth Management LLC raised its position in Truist Financial Corporation (NYSE:TFC - Free Report) by 12.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 483,389 shares of the insurance provider's stock after acquiring an additional 54,008 shares during the quarter. AE Wealth Management LLC's holdings in Truist Financial were worth $19,891,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TFC. Capital International Investors lifted its stake in Truist Financial by 26.0% during the fourth 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 last quarter. Geode Capital Management LLC lifted its stake in Truist Financial by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider's stock worth $1,210,348,000 after purchasing an additional 534,740 shares during the last quarter. Northern Trust Corp lifted its stake 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 purchasing an additional 2,452,239 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Truist Financial by 13.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,738,289 shares of the insurance provider's stock worth $465,827,000 after purchasing an additional 1,307,252 shares during the last quarter. Finally, FMR LLC lifted its stake in Truist Financial by 109.1% during the fourth quarter. FMR LLC now owns 10,460,159 shares of the insurance provider's stock worth $453,762,000 after purchasing an additional 5,457,053 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Bradley D. Bender sold 12,540 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total value of $566,682.60. Following the transaction, the insider directly owned 500 shares in the company, valued at $22,595. This trade represents a 96.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Truist Financial Price Performance

Truist Financial stock traded up $0.16 during trading hours on Friday, hitting $45.64. The stock had a trading volume of 6,278,182 shares, compared to its average volume of 8,237,608. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $59.76 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 1.70 and a beta of 0.85. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $49.06. The stock's fifty day moving average is $42.08 and its two-hundred day moving average is $42.10.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.02). Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The company had revenue of $5.04 billion during the quarter, compared to analysts' expectations of $5.04 billion. During the same quarter in the prior year, the company earned $0.91 earnings per share. The firm's revenue was down 406.0% compared to the same quarter last year. As a group, analysts predict that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.56%. Truist Financial's dividend payout ratio is currently 56.68%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TFC shares. Argus set a $43.00 target price on Truist Financial in a research note on Monday, April 21st. JPMorgan Chase & Co. reduced their price objective on Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Wall Street Zen upgraded Truist Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Barclays reduced their price objective on 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. Finally, Keefe, Bruyette & Woods cut Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 price objective for the company. in a research note on Wednesday, July 9th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $48.65.

Truist Financial Profile

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.