Symphony Financial Ltd. Co. Has $673,000 Stock Position in Truist Financial Corporation (NYSE:TFC)

Symphony Financial Ltd. Co. lowered its position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 45.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,348 shares of the insurance provider's stock after selling 13,737 shares during the period. Symphony Financial Ltd. Co.'s holdings in Truist Financial were worth $673,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Legacy Advisors LLC bought a new stake in Truist Financial during the 1st quarter worth $207,000. AssuredPartners Investment Advisors LLC grew its position in Truist Financial by 10.2% during the 1st quarter. AssuredPartners Investment Advisors LLC now owns 30,626 shares of the insurance provider's stock worth $1,260,000 after acquiring an additional 2,827 shares during the last quarter. Asset Management One Co. Ltd. grew its position in Truist Financial by 5.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 547,172 shares of the insurance provider's stock worth $22,516,000 after acquiring an additional 29,958 shares during the last quarter. GHP Investment Advisors Inc. grew its position in Truist Financial by 1.6% during the 1st quarter. GHP Investment Advisors Inc. now owns 44,433 shares of the insurance provider's stock worth $1,828,000 after acquiring an additional 700 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in Truist Financial by 2.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 138,276 shares of the insurance provider's stock worth $5,690,000 after acquiring an additional 2,986 shares during the last quarter. Institutional investors own 71.28% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Morgan Stanley reduced their price objective on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Monday, April 7th. Citigroup reduced their price target on Truist Financial from $51.00 to $44.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Keefe, Bruyette & Woods reduced their price target on Truist Financial from $53.00 to $47.00 and set an "outperform" rating on the stock in a research report on Monday, April 21st. Baird R W upgraded Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Finally, Piper Sandler reduced their price target on Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Nine research 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $47.83.

Truist Financial Stock Up 2.0%

TFC stock opened at $41.09 on Tuesday. The stock's 50 day simple moving average is $39.19 and its 200 day simple moving average is $42.05. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $53.81 billion, a P/E ratio of 12.12, a price-to-earnings-growth ratio of 1.49 and a beta of 0.84.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting analysts' consensus estimates of $0.87. Truist Financial had a return on equity of 8.96% and a net margin of 15.59%. The business had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the prior year, the business earned $0.90 EPS. On average, research analysts expect that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.06%. The ex-dividend date was Friday, May 9th. 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.

Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Corporation (NYSE:TFC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.