Man Group plc boosted its position in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 48.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 649,286 shares of the insurance provider's stock after purchasing an additional 212,128 shares during the quarter. Man Group plc's holdings in Truist Financial were worth $28,166,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Comerica Bank lifted its holdings in shares of Truist Financial by 3.6% during the 4th quarter. Comerica Bank now owns 449,484 shares of the insurance provider's stock valued at $19,499,000 after purchasing an additional 15,499 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Truist Financial by 48.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider's stock worth $129,000 after purchasing an additional 971 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Truist Financial by 81.7% in the 4th 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 purchasing an additional 498,531 shares in the last quarter. Country Club Bank raised its position in shares of Truist Financial by 719.8% in the fourth quarter. Country Club Bank now owns 45,499 shares of the insurance provider's stock valued at $1,973,000 after buying an additional 39,949 shares during the last quarter. Finally, David Wealth Management LLC purchased a new position in Truist Financial in the 4th quarter worth approximately $2,354,000. Institutional investors own 71.28% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on TFC. Argus set a $43.00 target price on shares of Truist Financial in a research note on Monday, April 21st. Keefe, Bruyette & Woods decreased their price target on Truist Financial from $53.00 to $47.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. TD Cowen started coverage on Truist Financial in a research report on Thursday. They set a "hold" rating and a $44.00 price objective for the company. StockNews.com raised shares of Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, Baird R W raised shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.83.
Get Our Latest Report on TFC
Truist Financial Stock Performance
Shares of Truist Financial stock traded up $0.01 on Monday, reaching $41.41. 6,270,322 shares of the stock were exchanged, compared to its average volume of 8,183,181. Truist Financial Co. has a 1-year low of $33.56 and a 1-year high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The business has a fifty day moving average price of $38.82 and a two-hundred day moving average price of $43.23. The firm has a market capitalization of $54.23 billion, a PE ratio of 12.44, a PEG ratio of 1.63 and a beta of 0.83.
Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting the consensus estimate 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 9.32%. During the same period in the previous year, the firm earned $0.90 EPS. As a group, research analysts anticipate 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 issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.02%. The ex-dividend date of this dividend is Friday, May 9th. Truist Financial's dividend payout ratio is currently 61.36%.
About Truist Financial
(
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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