Fullerton Fund Management Co Ltd. Purchases Shares of 15,298 Truist Financial Co. (NYSE:TFC)

Fullerton Fund Management Co Ltd. acquired a new stake in Truist Financial Co. (NYSE:TFC - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 15,298 shares of the insurance provider's stock, valued at approximately $664,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TFC. Hopwood Financial Services Inc. bought a new stake in shares of Truist Financial in the fourth quarter worth $26,000. Navigoe LLC bought a new position in shares of Truist Financial in the 4th quarter valued at about $26,000. Curio Wealth LLC acquired a new stake in shares of Truist Financial in the fourth quarter valued at about $45,000. City State Bank raised its holdings in Truist Financial by 158.1% during the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider's stock worth $51,000 after acquiring an additional 716 shares in the last quarter. Finally, Brown Lisle Cummings Inc. acquired a new position in Truist Financial during the fourth quarter valued at approximately $55,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of analyst reports. Raymond James cut Truist Financial from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Citigroup reduced their price target on Truist Financial from $51.00 to $44.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Morgan Stanley dropped their price objective on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Monday, April 7th. Finally, Robert W. Baird upgraded Truist Financial from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $48.06.

Truist Financial Stock Up 0.5%

TFC traded up $0.21 during trading on Tuesday, hitting $41.33. 6,226,934 shares of the company's stock were exchanged, compared to its average volume of 8,197,585. Truist Financial Co. has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The stock has a market cap of $54.12 billion, a P/E ratio of 12.41, a PEG ratio of 1.63 and a beta of 0.83. The business's 50 day moving average is $38.82 and its two-hundred day moving average is $43.29. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.87. The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $0.90 EPS. As a group, equities analysts expect that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 9th will be paid a $0.52 dividend. The ex-dividend date is Friday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.03%. Truist Financial's payout ratio is 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.