Mitsubishi UFJ Trust & Banking Corp Has $25.31 Million Stock Position in Truist Financial Corporation $TFC

Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 514,391 shares of the insurance provider's stock after selling 24,135 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Truist Financial were worth $25,313,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Valley Wealth Managers Inc. acquired a new position in Truist Financial in the third quarter valued at about $28,000. Ancora Advisors LLC lifted its holdings in shares of Truist Financial by 259.1% in the third quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 500 shares in the last quarter. Maseco LLP raised its holdings in Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider's stock worth $32,000 after acquiring an additional 228 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC raised its holdings in Truist Financial by 190.7% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider's stock worth $32,000 after acquiring an additional 431 shares in the last quarter. Finally, Tripletail Wealth Management LLC bought a new stake in Truist Financial during the third quarter worth about $37,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Down 1.1%

NYSE TFC opened at $50.61 on Thursday. The business has a fifty day moving average price of $48.10 and a two-hundred day moving average price of $48.22. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Corporation has a fifty-two week low of $37.51 and a fifty-two week high of $56.19. The stock has a market capitalization of $62.81 billion, a PE ratio of 12.56, a PEG ratio of 0.88 and a beta of 0.89.

Truist Financial (NYSE:TFC - Get Free Report) last released its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.09. The firm had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The company's quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.87 earnings per share. Equities analysts expect that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Friday, May 8th. Truist Financial's dividend payout ratio (DPR) is currently 51.61%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Barclays downgraded Truist Financial from an "equal weight" rating to an "underweight" rating and boosted their price target for the stock from $47.00 to $56.00 in a research report on Monday, January 5th. Evercore reissued an "outperform" rating on shares of Truist Financial in a research report on Thursday, February 5th. Royal Bank Of Canada increased their target price on Truist Financial from $51.00 to $53.00 and gave the stock an "outperform" rating in a research note on Monday, April 20th. Argus increased their target price on Truist Financial from $54.00 to $58.00 and gave the stock a "buy" rating in a research note on Friday, January 23rd. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $58.00 target price on shares of Truist Financial in a research note on Tuesday, January 6th. Ten research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Truist Financial currently has an average rating of "Moderate Buy" and a consensus target price of $55.41.

Insiders Place Their Bets

In other Truist Financial news, CAO Cynthia B. Powell sold 3,500 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $52.49, for a total transaction of $183,715.00. Following the completion of the sale, the chief accounting officer directly owned 667 shares in the company, valued at approximately $35,010.83. This trade represents a 83.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.15% of the company's stock.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.

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