Mirae Asset Global Investments Co. Ltd. Has $6.32 Million Stock Holdings in Truist Financial Corporation (NYSE:TFC)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 14.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,101 shares of the insurance provider's stock after buying an additional 20,298 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Truist Financial were worth $6,316,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. bought a new stake in shares of Truist Financial during the fourth quarter valued at about $26,000. Navigoe LLC acquired a new position in Truist Financial during the 4th quarter valued at about $26,000. Curio Wealth LLC bought a new stake in shares of Truist Financial during the 4th quarter worth about $45,000. TCTC Holdings LLC lifted its stake in shares of Truist Financial by 28.1% in the 4th quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider's stock worth $57,000 after acquiring an additional 287 shares during the period. Finally, Pinney & Scofield Inc. acquired a new stake in shares of Truist Financial in the 4th quarter worth approximately $57,000. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Performance

Shares of TFC stock traded up $0.20 on Thursday, reaching $45.23. The stock had a trading volume of 5,612,374 shares, compared to its average volume of 8,262,880. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The firm has a market capitalization of $59.23 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 1.67 and a beta of 0.85. The firm's 50-day moving average is $40.14 and its two-hundred day moving average is $41.95. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.55.

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, hitting the consensus estimate of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. The firm had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period last year, the business posted $0.90 earnings per share. On average, research analysts expect that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial's dividend payout ratio is 61.36%.

Wall Street Analyst Weigh In

Several brokerages recently commented on TFC. TD Cowen began coverage on Truist Financial in a report on Thursday, May 15th. They set a "hold" rating and a $44.00 target price on the stock. Barclays dropped their price objective on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Baird R W upgraded Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Morgan Stanley cut their price target on shares of Truist Financial from $50.00 to $43.00 and set an "equal weight" rating for the company in a report on Monday, April 7th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Truist Financial from $53.00 to $47.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $48.44.

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.