Nisa Investment Advisors LLC Purchases 17,625 Shares of Truist Financial Corporation (NYSE:TFC)

Nisa Investment Advisors LLC increased its position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 454,492 shares of the insurance provider's stock after purchasing an additional 17,625 shares during the period. Nisa Investment Advisors LLC's holdings in Truist Financial were worth $18,702,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Capital International Investors lifted its holdings 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 worth $3,930,983,000 after purchasing an additional 18,712,246 shares during the last quarter. Geode Capital Management LLC lifted its holdings 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 worth $1,210,348,000 after purchasing an additional 534,740 shares during the last quarter. Northern Trust Corp raised its holdings in Truist Financial by 20.5% in 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Truist Financial by 13.9% in 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. Finally, FMR LLC raised its holdings in Truist Financial by 109.1% in the 4th quarter. FMR LLC now owns 10,460,159 shares of the insurance provider's stock valued at $453,762,000 after acquiring an additional 5,457,053 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Piper Sandler dropped their price objective on Truist Financial from $45.00 to $41.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Wall Street Zen raised Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Raymond James Financial raised Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 price objective for the company in a report on Tuesday, July 8th. Stephens dropped their price objective on Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, Barclays dropped their price objective on Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Truist Financial has an average rating of "Moderate Buy" and an average target price of $48.44.

Truist Financial Price Performance

TFC stock traded down $0.04 during midday trading on Friday, reaching $45.46. 8,319,455 shares of the stock were exchanged, compared to its average volume of 8,340,705. The stock has a market capitalization of $59.53 billion, a PE ratio of 13.41, a P/E/G ratio of 1.69 and a beta of 0.85. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.83. The company has a fifty day moving average price of $41.10 and a 200 day moving average price of $41.99.

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 for the quarter, hitting 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 8.96% and a net margin of 15.59%. During the same quarter in the previous year, the company posted $0.90 EPS. As a group, 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. Investors of record on Friday, May 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.58%. Truist Financial's dividend 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.