Truist Financial Corporation (NYSE:TFC) Stock Holdings Lifted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 1.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,434,797 shares of the insurance provider's stock after buying an additional 60,957 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.26% of Truist Financial worth $141,342,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TFC. Hopwood Financial Services Inc. purchased a new stake in Truist Financial during the fourth quarter valued at about $26,000. Navigoe LLC purchased a new stake in shares of Truist Financial during the 4th quarter worth about $26,000. Sierra Ocean LLC grew its holdings in shares of Truist Financial by 64.4% during the 1st quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider's stock worth $37,000 after purchasing an additional 352 shares during the period. Rossby Financial LCC purchased a new position in Truist Financial in the first quarter valued at approximately $43,000. Finally, Curio Wealth LLC acquired a new position in Truist Financial during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 71.28% of the company's stock.

Truist Financial Stock Performance

Shares of NYSE TFC traded up $0.38 during midday trading on Thursday, reaching $45.54. 6,821,768 shares of the company traded hands, compared to its average volume of 8,304,290. The company has a market cap of $59.63 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 1.69 and a beta of 0.85. The stock has a 50-day moving average price of $40.84 and a 200 day moving average price of $42.00. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick 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 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. The business had revenue of $4.95 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same period last year, the firm posted $0.90 earnings per share. Sell-side analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date was Friday, May 9th. Truist Financial's dividend payout ratio is presently 61.36%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TFC shares. Citigroup raised Truist Financial from a "neutral" rating to a "buy" rating and upped their target price for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Raymond James Financial raised shares of Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 price objective for the company in a report on Tuesday. Wells Fargo & Company cut their target price on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Morgan Stanley decreased their price target on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. Finally, TD Cowen initiated coverage on Truist Financial in a research note on Thursday, May 15th. They set a "hold" rating and a $44.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.44.

Truist Financial Company 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.