Truist Financial Corporation $TFC Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Truist Financial Corporation (NYSE:TFC - Free Report) by 4.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,692,655 shares of the insurance provider's stock after buying an additional 119,002 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.21% of Truist Financial worth $133,933,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Truist Financial by 0.7% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 212,691 shares of the insurance provider's stock valued at $10,467,000 after buying an additional 1,494 shares during the period. RNC Capital Management LLC acquired a new position in shares of Truist Financial in the 4th quarter valued at about $214,000. Principal Financial Group Inc. boosted its holdings in shares of Truist Financial by 2.4% in the 4th quarter. Principal Financial Group Inc. now owns 1,410,891 shares of the insurance provider's stock valued at $69,430,000 after buying an additional 32,865 shares during the period. Cerro Pacific Wealth Advisors LLC boosted its holdings in shares of Truist Financial by 3.2% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 15,609 shares of the insurance provider's stock valued at $768,000 after buying an additional 482 shares during the period. Finally, Varma Mutual Pension Insurance Co boosted its holdings in shares of Truist Financial by 10.0% in the 4th quarter. Varma Mutual Pension Insurance Co now owns 324,580 shares of the insurance provider's stock valued at $15,973,000 after buying an additional 29,500 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TFC has been the subject of several research reports. Weiss Ratings raised shares of Truist Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, May 1st. Evercore reaffirmed an "outperform" rating on shares of Truist Financial in a report on Thursday, February 5th. Jefferies Financial Group reissued a "mixed" rating and set a $45.00 target price on shares of Truist Financial in a research note on Friday, April 17th. Morgan Stanley reduced their target price on shares of Truist Financial from $63.00 to $62.00 and set an "overweight" rating for the company in a research note on Monday, April 20th. Finally, Piper Sandler boosted their target price on shares of Truist Financial from $50.00 to $53.00 and gave the company a "neutral" rating in a research note on Thursday, January 22nd. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $55.59.

Truist Financial Trading Up 1.8%

Truist Financial stock opened at $50.83 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $48.06 and a two-hundred day moving average price of $48.43. The firm has a market capitalization of $63.32 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 0.85 and a beta of 0.92. Truist Financial Corporation has a 52-week low of $38.27 and a 52-week high of $56.19.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.09. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.87 EPS. Sell-side analysts expect that Truist Financial Corporation will post 4.52 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, May 8th. Truist Financial's dividend payout ratio is currently 51.61%.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.

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