Lazard Asset Management LLC Has $620,000 Stock Position in Truist Financial Co. (NYSE:TFC)

Lazard Asset Management LLC grew its holdings in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 101.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 14,316 shares of the insurance provider's stock after acquiring an additional 7,197 shares during the period. Lazard Asset Management LLC's holdings in Truist Financial were worth $620,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. PBMares Wealth Management LLC raised its stake in shares of Truist Financial by 0.8% during the fourth quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider's stock valued at $1,270,000 after acquiring an additional 224 shares during the last quarter. Koshinski Asset Management Inc. raised its stake in shares of Truist Financial by 2.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider's stock valued at $470,000 after acquiring an additional 225 shares during the last quarter. FWG Holdings LLC raised its stake in shares of Truist Financial by 4.3% during the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider's stock valued at $267,000 after acquiring an additional 234 shares during the last quarter. Avestar Capital LLC increased its position in shares of Truist Financial by 4.1% during the fourth quarter. Avestar Capital LLC now owns 6,299 shares of the insurance provider's stock worth $273,000 after buying an additional 250 shares during the period. Finally, Pathway Financial Advisors LLC increased its position in shares of Truist Financial by 2.2% during the fourth quarter. Pathway Financial Advisors LLC now owns 12,124 shares of the insurance provider's stock worth $526,000 after buying an additional 260 shares during the period. Institutional investors own 71.28% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TFC shares. TD Cowen started coverage on shares of Truist Financial in a research report on Thursday, May 15th. They set a "hold" rating and a $44.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective 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. 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 report on Friday, March 28th. Stephens decreased their price objective on shares of Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, Citigroup decreased their price objective on shares of Truist Financial from $51.00 to $44.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $47.83.

Truist Financial Stock Up 1.8%

Shares of NYSE TFC traded up $0.72 during mid-day trading on Tuesday, reaching $40.00. 5,674,837 shares of the company's stock traded hands, compared to its average volume of 8,267,526. The stock has a market cap of $52.38 billion, a P/E ratio of 12.01, a PEG ratio of 1.63 and a beta of 0.83. The business has a 50-day simple moving average of $38.72 and a 200 day simple moving average of $43.03. Truist Financial Co. has a 1-year low of $33.56 and a 1-year high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.87. The firm 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 9.32%. During the same period last year, the company earned $0.90 earnings per share. On average, analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 9th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date of this dividend is Friday, May 9th. Truist Financial's dividend payout ratio is currently 61.36%.

About Truist Financial

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.