Professional Advisory Services Inc. Acquires 15,743 Shares of Truist Financial Co. (NYSE:TFC)

Professional Advisory Services Inc. increased its holdings in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 3.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 443,667 shares of the insurance provider's stock after purchasing an additional 15,743 shares during the quarter. Truist Financial accounts for 2.6% of Professional Advisory Services Inc.'s portfolio, making the stock its 25th biggest holding. Professional Advisory Services Inc.'s holdings in Truist Financial were worth $18,257,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of TFC. Capital International Investors lifted its holdings 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 valued at $3,930,983,000 after acquiring an additional 18,712,246 shares during the period. Norges Bank purchased a new stake in Truist Financial in the fourth quarter worth about $402,828,000. FMR LLC raised its stake in shares of 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 buying an additional 5,457,053 shares during the period. Raymond James Financial Inc. bought a new position in shares of Truist Financial in the fourth quarter worth about $198,051,000. Finally, Northern Trust Corp raised its stake in shares of 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 buying an additional 2,452,239 shares during the period. Institutional investors own 71.28% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on TFC shares. Stephens decreased their price objective on Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. decreased their price objective on Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Wall Street Zen raised Truist Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Citigroup decreased their price objective on Truist Financial from $51.00 to $44.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Finally, TD Cowen assumed coverage on Truist Financial in a research note on Thursday, May 15th. They issued a "hold" rating and a $44.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Truist Financial has a consensus rating of "Moderate Buy" and an average target price of $47.83.

Truist Financial Stock Performance

NYSE TFC opened at $40.66 on Friday. The stock has a market capitalization of $53.25 billion, a PE ratio of 12.21, a P/E/G ratio of 1.63 and a beta of 0.84. The business has a 50 day simple moving average of $38.43 and a two-hundred day simple moving average of $42.65. 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 Co. has a 1-year low of $33.56 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. The business had revenue of $4.95 billion during the quarter, compared to analysts' expectations 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 business posted $0.90 EPS. On average, research analysts predict that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.12%. The ex-dividend date was Friday, May 9th. Truist Financial's dividend payout ratio 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.

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