Inspire Trust Co. N.A. Raises Position in Truist Financial Co. (NYSE:TFC)

Inspire Trust Co. N.A. raised its position in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 9.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,000 shares of the insurance provider's stock after acquiring an additional 7,000 shares during the quarter. Inspire Trust Co. N.A.'s holdings in Truist Financial were worth $3,557,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Capital International Investors increased its stake in Truist Financial by 26.0% in the 4th 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 last quarter. Geode Capital Management LLC increased its stake in Truist Financial by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider's stock valued at $1,210,348,000 after buying an additional 534,740 shares during the last quarter. Amundi increased its stake in Truist Financial by 6.5% in the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider's stock valued at $1,040,718,000 after buying an additional 1,450,323 shares during the last quarter. Northern Trust Corp increased its stake in 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 buying an additional 2,452,239 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Truist Financial by 13.9% in the 4th 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 buying an additional 1,307,252 shares during the last quarter. Institutional investors own 71.28% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wells Fargo & Company decreased their price objective on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Morgan Stanley reduced their target price on shares of Truist Financial from $50.00 to $43.00 and set an "equal weight" rating for the company in a research report on Monday, April 7th. JPMorgan Chase & Co. reduced their target price on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Barclays reduced 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 report on Monday, April 21st. Finally, Argus set a $43.00 target price on shares of Truist Financial in a research report on Monday, April 21st. Nine investment 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $47.83.

Truist Financial Price Performance

NYSE TFC traded up $0.52 on Tuesday, hitting $39.80. The stock had a trading volume of 2,101,911 shares, compared to its average volume of 8,253,791. Truist Financial Co. 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 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $52.11 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83. The firm has a 50-day moving average of $38.75 and a 200-day moving average of $43.05.

Truist Financial (NYSE:TFC - Get Free Report) last posted 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. The business had revenue of $4.95 billion for 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 9.32%. During the same period in the prior year, the company posted $0.90 EPS. Equities analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 9th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.23%. The ex-dividend date is Friday, May 9th. Truist Financial's dividend payout ratio (DPR) is currently 61.36%.

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.