Truist Financial Corporation (NYSE:TFC) Position Reduced by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its position in Truist Financial Corporation (NYSE:TFC - Free Report) by 15.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,899 shares of the insurance provider's stock after selling 14,997 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Truist Financial were worth $3,452,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TFC. Comerica Bank grew its position in Truist Financial by 3.6% during the 4th quarter. Comerica Bank now owns 449,484 shares of the insurance provider's stock worth $19,499,000 after purchasing an additional 15,499 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Truist Financial by 81.7% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,108,466 shares of the insurance provider's stock valued at $48,085,000 after buying an additional 498,531 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Truist Financial by 2.8% during the fourth quarter. Stifel Financial Corp now owns 2,242,763 shares of the insurance provider's stock valued at $97,291,000 after buying an additional 60,848 shares in the last quarter. Glass Wealth Management Co LLC raised its position in Truist Financial by 9.5% during the fourth quarter. Glass Wealth Management Co LLC now owns 67,978 shares of the insurance provider's stock valued at $2,949,000 after buying an additional 5,900 shares during the period. Finally, Assetmark Inc. lifted its stake in Truist Financial by 97.1% in the 4th quarter. Assetmark Inc. now owns 91,833 shares of the insurance provider's stock worth $3,984,000 after acquiring an additional 45,235 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Raymond James Financial downgraded Truist Financial from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Citigroup lowered their price objective on shares of Truist Financial from $51.00 to $44.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Wall Street Zen upgraded shares of Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Barclays lowered their price target on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Finally, Baird R W upgraded Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $47.83.

Truist Financial Trading Up 1.1%

Shares of TFC stock opened at $40.25 on Friday. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The company has a market cap of $52.71 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.49 and a beta of 0.84. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. The business's 50 day moving average is $39.09 and its two-hundred day moving average is $42.12.

Truist Financial (NYSE:TFC - Get Free Report) last posted its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting 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 net margin of 15.59% and a return on equity of 8.96%. During the same period last year, the business posted $0.90 EPS. Equities analysts predict that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm 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. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.17%. Truist Financial's payout ratio is presently 61.36%.

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.

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