DekaBank Deutsche Girozentrale lowered its position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 2.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 559,188 shares of the insurance provider's stock after selling 13,376 shares during the period. DekaBank Deutsche Girozentrale's holdings in Truist Financial were worth $22,320,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the company. Capital International Investors raised its stake in shares of Truist Financial by 26.0% during 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 purchasing an additional 18,712,246 shares during the period. Geode Capital Management LLC raised its stake in shares of Truist Financial by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider's stock valued at $1,210,348,000 after purchasing an additional 534,740 shares during the period. Northern Trust Corp raised its stake in shares of Truist Financial by 20.5% during the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock valued at $626,154,000 after purchasing an additional 2,452,239 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Truist Financial by 13.9% during the fourth 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 worth $465,827,000 after buying an additional 1,307,252 shares in the last quarter. Finally, FMR LLC grew its position in shares of Truist Financial by 109.1% during 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 in the last quarter. Hedge funds and other institutional investors own 71.28% of the company's stock.
Truist Financial Stock Performance
TFC stock traded down $0.04 during mid-day trading on Friday, reaching $45.46. The company had a trading volume of 8,319,455 shares, compared to its average volume of 8,327,899. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06. The stock's 50-day simple moving average is $41.10 and its two-hundred day simple moving average is $42.02. 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 stock has a market capitalization of $59.53 billion, a P/E ratio of 13.41, a P/E/G ratio of 1.69 and a beta of 0.85.
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, meeting analysts' consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. The business had revenue of $4.95 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the previous year, the business earned $0.90 earnings per share. Research analysts anticipate that Truist Financial Corporation will post 4 EPS for the current year.
Truist Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date was Friday, May 9th. Truist Financial's dividend payout ratio is currently 61.36%.
Analysts Set New Price Targets
A number of analysts have recently weighed in on TFC shares. Argus set a $43.00 price target on shares of Truist Financial in a research report on Monday, April 21st. TD Cowen started coverage on shares of Truist Financial in a research report on Thursday, May 15th. They set a "hold" rating and a $44.00 price target for the company. Wells Fargo & Company decreased their price target on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Keefe, Bruyette & Woods downgraded shares of Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 price objective for the company. in a report on Wednesday. Finally, Stephens decreased their price objective on shares of Truist Financial from $48.00 to $46.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $48.44.
View Our Latest Stock Analysis on Truist Financial
Truist Financial Company Profile
(
Free Report)
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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