Hunter Perkins Capital Management LLC Reduces Stake in Truist Financial Corporation (NYSE:TFC)

Hunter Perkins Capital Management LLC lessened its holdings in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 17.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 203,402 shares of the insurance provider's stock after selling 43,734 shares during the quarter. Truist Financial makes up 1.9% of Hunter Perkins Capital Management LLC's portfolio, making the stock its 16th biggest position. Hunter Perkins Capital Management LLC's holdings in Truist Financial were worth $8,370,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Capital International Investors increased its position in shares of Truist Financial by 26.0% during the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider's stock valued at $3,930,983,000 after buying an additional 18,712,246 shares during the period. Geode Capital Management LLC grew its holdings in shares of Truist Financial by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider's stock worth $1,210,348,000 after acquiring an additional 534,740 shares during the period. Amundi raised its position in shares of Truist Financial by 6.5% in the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider's stock worth $1,040,718,000 after acquiring an additional 1,450,323 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Truist Financial by 20.5% in the 4th quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock valued at $626,154,000 after purchasing an additional 2,452,239 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of 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 valued at $465,827,000 after purchasing an additional 1,307,252 shares in the last quarter. Institutional investors own 71.28% of the company's stock.

Truist Financial Stock Up 2.8%

Truist Financial stock opened at $42.57 on Friday. The stock has a fifty day moving average of $39.54 and a 200 day moving average of $42.01. The stock has a market cap of $55.75 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 1.54 and a beta of 0.84. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC - Get Free Report) last announced its earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting analysts' consensus estimates of $0.87. The business had revenue of $4.95 billion during the quarter, compared to analysts' expectations of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. During the same period in the prior year, the company earned $0.90 earnings per share. As a group, sell-side analysts predict that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, May 9th. This represents a $2.08 annualized dividend and a yield of 4.89%. Truist Financial's dividend payout ratio (DPR) is presently 61.36%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Piper Sandler lowered their price target on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Baird R W raised Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Argus set a $43.00 price objective on Truist Financial in a research report on Monday, April 21st. Wall Street Zen raised Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Keefe, Bruyette & Woods reduced their price target on Truist Financial from $53.00 to $47.00 and set an "outperform" rating for the company in a report on Monday, April 21st. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average 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.

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