Nuveen Asset Management LLC Decreases Holdings in Truist Financial Co. (NYSE:TFC)

Nuveen Asset Management LLC decreased its holdings in Truist Financial Co. (NYSE:TFC - Free Report) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,838,806 shares of the insurance provider's stock after selling 180,587 shares during the quarter. Nuveen Asset Management LLC owned about 0.21% of Truist Financial worth $123,147,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of TFC. Capital International Investors lifted its holdings in shares of Truist Financial by 26.0% during the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider's stock valued at $3,930,983,000 after purchasing an additional 18,712,246 shares during the last quarter. Norges Bank bought a new stake in shares of Truist Financial during the 4th quarter valued at $402,828,000. FMR LLC grew its position in shares of Truist Financial by 109.1% during the 4th quarter. FMR LLC now owns 10,460,159 shares of the insurance provider's stock valued at $453,762,000 after acquiring an additional 5,457,053 shares during the period. Raymond James Financial Inc. bought a new position in shares of Truist Financial in the fourth quarter worth about $198,051,000. Finally, Northern Trust Corp lifted its position in Truist Financial by 20.5% during the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock valued at $626,154,000 after purchasing an additional 2,452,239 shares during the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Performance

Shares of NYSE TFC traded down $0.75 during mid-day trading on Tuesday, reaching $40.65. 11,771,869 shares of the company's stock were exchanged, compared to its average volume of 8,197,484. The firm has a 50-day moving average price of $38.85 and a two-hundred day moving average price of $43.22. Truist Financial Co. has a 52 week low of $33.56 and a 52 week high of $49.06. The firm has a market capitalization of $53.23 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83. 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 posted its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting analysts' consensus estimates of $0.87. The firm had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same period last year, the company earned $0.90 earnings per share. Analysts predict that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed 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 is Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.12%. Truist Financial's dividend payout ratio is currently 61.36%.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of research reports. Piper Sandler reduced their target price on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. TD Cowen assumed coverage on shares of Truist Financial in a report on Thursday, May 15th. They issued a "hold" rating and a $44.00 price objective for the company. Baird R W upgraded shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Barclays dropped their price objective on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Truist Financial from $53.00 to $47.00 and set an "outperform" rating on the stock in a report on Monday, April 21st. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Truist Financial has an average rating of "Moderate Buy" and a consensus target price of $47.83.

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.