USS Investment Management Ltd Lowers Position in Truist Financial Co. (NYSE:TFC)

USS Investment Management Ltd lessened its stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 56.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 200,969 shares of the insurance provider's stock after selling 258,605 shares during the period. USS Investment Management Ltd's holdings in Truist Financial were worth $8,721,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TFC. Hopwood Financial Services Inc. bought a new position in shares of Truist Financial during the 4th quarter valued at approximately $26,000. Navigoe LLC purchased a new position in Truist Financial during the fourth quarter valued at approximately $26,000. Curio Wealth LLC bought a new position in shares of Truist Financial in the fourth quarter worth approximately $45,000. Brown Lisle Cummings Inc. bought a new position in shares of Truist Financial in the fourth quarter worth approximately $55,000. Finally, TCTC Holdings LLC increased its stake in shares of Truist Financial by 28.1% in the fourth quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider's stock worth $57,000 after purchasing an additional 287 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Morgan Stanley dropped their target price on shares of Truist Financial from $50.00 to $43.00 and set an "equal weight" rating for the company in a report on Monday, April 7th. Stephens lowered their price objective on Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. 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 for the company. Wells Fargo & Company decreased their target price on Truist Financial from $52.00 to $50.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Finally, StockNews.com raised Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Truist Financial currently has a consensus rating of "Moderate Buy" and an average target price of $47.83.

Truist Financial Trading Down 3.7%

Shares of TFC opened at $39.16 on Thursday. The stock has a market capitalization of $51.28 billion, a PE ratio of 11.76, a P/E/G ratio of 1.63 and a beta of 0.83. The company's fifty day moving average is $38.85 and its 200 day moving average is $43.18. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a fifty-two week low of $33.56 and a fifty-two week high of $49.06.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting analysts' consensus estimates 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 net margin of 15.59% and a return on equity of 9.32%. During the same period last year, the company posted $0.90 EPS. Sell-side analysts expect that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 9th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.31%. 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.

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