Mufg Securities Americas Inc. Invests $954,000 in Truist Financial Co. (NYSE:TFC)

Mufg Securities Americas Inc. bought a new stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 21,993 shares of the insurance provider's stock, valued at approximately $954,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Man Group plc boosted its stake in Truist Financial by 48.5% during the fourth quarter. Man Group plc now owns 649,286 shares of the insurance provider's stock worth $28,166,000 after buying an additional 212,128 shares during the period. Nissay Asset Management Corp Japan ADV lifted its stake in shares of Truist Financial by 0.9% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 161,096 shares of the insurance provider's stock worth $7,035,000 after purchasing an additional 1,379 shares during the last quarter. Nomura Holdings Inc. purchased a new position in shares of Truist Financial in the 4th quarter worth approximately $2,466,000. Nearwater Capital Markets Ltd purchased a new position in Truist Financial during the 4th quarter worth $9,979,000. Finally, NorthRock Partners LLC grew its position in Truist Financial by 168.2% during the 4th quarter. NorthRock Partners LLC now owns 14,356 shares of the insurance provider's stock worth $623,000 after purchasing an additional 9,004 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TFC has been the topic of several recent research reports. StockNews.com raised shares of Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Baird R W raised Truist Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Keefe, Bruyette & Woods lowered their price objective 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. Robert W. Baird raised shares of Truist Financial from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th. Finally, Morgan Stanley cut their price objective on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating for the company in a research report on Monday, April 7th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Truist Financial currently has a consensus rating of "Moderate Buy" and an average target price of $48.06.

Truist Financial Stock Down 0.3%

Truist Financial stock opened at $41.21 on Thursday. The stock's fifty day moving average is $38.78 and its two-hundred day moving average is $43.26. The stock has a market cap of $53.97 billion, a PE ratio of 12.38, a P/E/G ratio of 1.63 and a beta of 0.83. Truist Financial Co. has a 1-year low of $33.56 and a 1-year high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

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, hitting the consensus estimate of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the firm earned $0.90 EPS. On average, sell-side analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 9th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.05%. Truist Financial's payout ratio is 61.36%.

About Truist Financial

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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