Generali Asset Management SPA SGR Has $4.58 Million Stock Holdings in Truist Financial Corporation $TFC

Key Points

• Generali Asset Management SPA SGR has increased its holdings in Truist Financial Corporation by 182.1% during the second quarter, now owning 106,556 shares worth approximately $4.58 million.
• Truist Financial has received mixed ratings from analysts, with price targets ranging from $47.00 to $55.00 and an average consensus rating of "Moderate Buy".
• The company announced a quarterly dividend of $0.52 per share, providing a yield of 4.8%, alongside a reported earnings miss of $0.91 EPS for the last quarter.

Generali Asset Management SPA SGR boosted its position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 182.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 106,556 shares of the insurance provider's stock after buying an additional 68,782 shares during the quarter. Generali Asset Management SPA SGR's holdings in Truist Financial were worth $4,581,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Amundi lifted its holdings in Truist Financial by 4.6% during the 1st quarter. Amundi now owns 24,774,656 shares of the insurance provider's stock worth $1,019,477,000 after buying an additional 1,091,311 shares in the last quarter. Invesco Ltd. lifted its holdings in Truist Financial by 32.0% during the 1st quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider's stock worth $540,723,000 after buying an additional 3,188,999 shares in the last quarter. American Century Companies Inc. lifted its holdings in Truist Financial by 21.8% during the 1st quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider's stock worth $495,509,000 after buying an additional 2,158,639 shares in the last quarter. Federated Hermes Inc. lifted its holdings in Truist Financial by 0.9% during the 1st quarter. Federated Hermes Inc. now owns 9,511,639 shares of the insurance provider's stock worth $391,404,000 after buying an additional 89,373 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Truist Financial by 5.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,030,898 shares of the insurance provider's stock worth $330,408,000 after buying an additional 408,726 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TFC. Keefe, Bruyette & Woods downgraded Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 price objective on the stock. in a report on Wednesday, July 9th. Evercore ISI increased their price target on Truist Financial from $48.00 to $50.00 and gave the company an "in-line" rating in a research note on Tuesday, September 30th. Wells Fargo & Company reissued an "equal weight" rating and issued a $47.00 price target on shares of Truist Financial in a research note on Thursday, August 21st. Citigroup raised Truist Financial from a "neutral" rating to a "buy" rating and increased their price target for the company from $44.00 to $55.00 in a research note on Thursday, June 26th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Truist Financial in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, Truist Financial currently has an average rating of "Moderate Buy" and a consensus price target of $48.89.

Truist Financial Price Performance

Shares of TFC opened at $43.26 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a 50 day simple moving average of $45.16 and a 200 day simple moving average of $42.21. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06. The firm has a market capitalization of $55.79 billion, a PE ratio of 11.79, a P/E/G ratio of 1.40 and a beta of 0.88.

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

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Friday, August 8th. Truist Financial's dividend payout ratio is 56.68%.

Insider Transactions at Truist Financial

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total transaction of $566,682.60. Following the completion of the transaction, the insider owned 500 shares in the company, valued at approximately $22,595. This represents a 96.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.17% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.