OMERS ADMINISTRATION Corp Raises Stock Position in Truist Financial Co. (NYSE:TFC)

OMERS ADMINISTRATION Corp raised its stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 20.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 55,644 shares of the insurance provider's stock after buying an additional 9,352 shares during the period. OMERS ADMINISTRATION Corp's holdings in Truist Financial were worth $2,414,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital International Investors raised its holdings in Truist Financial by 26.0% in the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider's stock worth $3,930,983,000 after purchasing an additional 18,712,246 shares during the period. Norges Bank purchased a new position in shares of Truist Financial during the 4th quarter valued at about $402,828,000. FMR LLC grew its stake 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 stake in Truist Financial during the 4th quarter worth approximately $198,051,000. Finally, Northern Trust Corp lifted its holdings 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 in the last quarter. 71.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. StockNews.com raised Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Argus set a $43.00 target price on Truist Financial in a research note on Monday, April 21st. Keefe, Bruyette & Woods dropped their price target on Truist Financial from $53.00 to $47.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Stephens reduced their price objective on shares of Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Truist Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.06.

Truist Financial Trading Down 0.3%

Shares of TFC stock opened at $41.21 on Thursday. Truist Financial Co. has a twelve month low of $33.56 and a twelve month 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's 50 day moving average is $38.78 and its two-hundred day moving average is $43.26. The company has a market capitalization of $53.97 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 1.63 and a beta 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, meeting the consensus estimate of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $4.95 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same period last year, the firm earned $0.90 EPS. Equities analysts forecast that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

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