MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Trims Stock Position in Truist Financial Co. (NYSE:TFC)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 11.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 172,033 shares of the insurance provider's stock after selling 21,724 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Truist Financial were worth $7,463,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TFC. Capital International Investors raised its position in Truist Financial by 26.0% in the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider's stock worth $3,930,983,000 after acquiring an additional 18,712,246 shares in the last quarter. Norges Bank purchased a new position in Truist Financial in the fourth quarter worth $402,828,000. FMR LLC raised its position in Truist Financial by 109.1% in the fourth quarter. FMR LLC now owns 10,460,159 shares of the insurance provider's stock worth $453,762,000 after acquiring an additional 5,457,053 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Truist Financial in the fourth quarter worth $198,051,000. Finally, Northern Trust Corp raised its position in Truist Financial by 20.5% in the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock worth $626,154,000 after acquiring an additional 2,452,239 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company's stock.

Wall Street Analyst Weigh In

TFC has been the subject of several research 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. Piper Sandler lowered their target price on Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Argus set a $43.00 target price on Truist Financial in a report on Monday, April 21st. Keefe, Bruyette & Woods lowered their target price on Truist Financial from $53.00 to $47.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Finally, Baird R W raised Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.83.

Truist Financial Price Performance

Shares of TFC traded down $0.18 during trading hours on Friday, reaching $39.31. 7,394,255 shares of the company traded hands, compared to its average volume of 8,257,425. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $51.48 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83. Truist Financial Co. has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The stock has a fifty day simple moving average of $38.79 and a 200 day simple moving average of $43.14.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same quarter last year, the company earned $0.90 earnings per share. As a group, research analysts predict that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 9th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.29%. Truist Financial's dividend payout ratio (DPR) is presently 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.