Jones Financial Companies Lllp Increases Position in Truist Financial Corporation $TFC

Key Points

• Jones Financial Companies Lllp increased its stake in Truist Financial Corporation by 35.6%, owning over 1.1 million shares worth approximately $46 million.
• Several institutional investors raised their positions in Truist Financial during the 1st quarter, with Amundi and Invesco growing their holdings significantly.
• The company declared a quarterly dividend of $0.52, yielding 4.6% annually, with a payout ratio of 56.68%.

Jones Financial Companies Lllp raised its stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 35.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,137,797 shares of the insurance provider's stock after purchasing an additional 298,907 shares during the period. Jones Financial Companies Lllp owned 0.09% of Truist Financial worth $46,049,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Amundi grew 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 acquiring an additional 1,091,311 shares in the last quarter. Invesco Ltd. lifted its position in Truist Financial by 32.0% in the 1st quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider's stock valued at $540,723,000 after purchasing an additional 3,188,999 shares during the last quarter. American Century Companies Inc. lifted its position in Truist Financial by 21.8% in the 1st quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider's stock valued at $495,509,000 after purchasing an additional 2,158,639 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Truist Financial by 13.9% during 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 period. Finally, Federated Hermes Inc. increased its stake 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 valued at $391,404,000 after buying an additional 89,373 shares during the period. Institutional investors and hedge funds own 71.28% of the company's stock.

Analysts Set New Price Targets

TFC has been the topic of several analyst reports. Morgan Stanley reissued a "mixed" rating on shares of Truist Financial in a research report on Monday, July 21st. Wells Fargo & Company reiterated an "equal weight" rating and issued a $47.00 target price on shares of Truist Financial in a research note on Thursday, August 21st. Citigroup upgraded shares of Truist Financial from a "neutral" rating to a "buy" rating and lifted their target price for the company from $44.00 to $55.00 in a research note 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 target on the stock in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods lowered shares of Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 target price on the stock. in a research report on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $48.47.

Truist Financial Trading Down 0.2%

TFC stock opened at $45.22 on Monday. 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 company has a fifty day moving average price of $45.02 and a two-hundred day moving average price of $41.69. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06. The stock has a market cap of $58.30 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 1.69 and a beta of 0.88.

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

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial's dividend payout ratio is presently 56.68%.

Insider Activity

In other news, insider Bradley D. Bender sold 12,540 shares of the firm's stock in a transaction on 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 sale, the insider directly owned 500 shares of the company's stock, valued at $22,595. This trade represents a 96.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

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.

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