KBC Group NV Sells 28,981 Shares of Truist Financial Corporation (NYSE:TFC)

KBC Group NV lessened its stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 1.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,002,912 shares of the insurance provider's stock after selling 28,981 shares during the quarter. KBC Group NV owned approximately 0.15% of Truist Financial worth $82,420,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Capital International Investors boosted its position in Truist Financial by 26.0% during 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 acquiring an additional 18,712,246 shares in the last quarter. Geode Capital Management LLC boosted its position in 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 valued at $1,210,348,000 after acquiring an additional 534,740 shares in the last quarter. Amundi boosted its position in Truist Financial by 6.5% during the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider's stock valued at $1,040,718,000 after acquiring an additional 1,450,323 shares in the last quarter. Northern Trust Corp boosted its position in Truist Financial by 20.5% during the 4th quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock valued at $626,154,000 after acquiring an additional 2,452,239 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 acquiring an additional 1,307,252 shares in the last quarter. Institutional investors own 71.28% of the company's stock.

Analysts Set New Price Targets

TFC has been the subject of a number of recent analyst reports. TD Cowen initiated coverage on Truist Financial in a research report on Thursday, May 15th. They issued a "hold" rating and a $44.00 price objective for the company. Morgan Stanley lowered their price objective on 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. Wells Fargo & Company lowered their price objective on Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Barclays lowered their price objective on 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, Raymond James Financial cut Truist Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Truist Financial has a consensus rating of "Moderate Buy" and a consensus target price of $48.44.

Truist Financial Stock Performance

NYSE TFC opened at $42.63 on Friday. The stock has a 50-day simple moving average of $39.67 and a two-hundred day simple moving average of $41.96. The firm has a market capitalization of $55.83 billion, a P/E ratio of 12.58, a PEG ratio of 1.58 and a beta of 0.84. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week 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 released its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting analysts' consensus estimates of $0.87. The business had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. During the same quarter last year, the business posted $0.90 EPS. On average, equities analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.88%. Truist Financial's payout ratio is currently 61.36%.

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.

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.