Point72 Europe London LLP Grows Stock Holdings in Truist Financial Co. (NYSE:TFC)

Point72 Europe London LLP increased its stake in Truist Financial Co. (NYSE:TFC - Free Report) by 154.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 582,869 shares of the insurance provider's stock after purchasing an additional 353,579 shares during the quarter. Truist Financial accounts for 1.5% of Point72 Europe London LLP's portfolio, making the stock its 20th largest position. Point72 Europe London LLP's holdings in Truist Financial were worth $25,285,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. PBMares Wealth Management LLC lifted its position in shares of Truist Financial by 0.8% during the 4th quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider's stock valued at $1,270,000 after buying an additional 224 shares in the last quarter. Koshinski Asset Management Inc. lifted its holdings in Truist Financial by 2.1% during the fourth quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider's stock valued at $470,000 after purchasing an additional 225 shares in the last quarter. Aaron Wealth Advisors LLC boosted its position in shares of Truist Financial by 3.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider's stock worth $335,000 after purchasing an additional 227 shares during the period. FWG Holdings LLC raised its position in shares of Truist Financial by 4.3% during the 4th quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider's stock valued at $267,000 after purchasing an additional 234 shares during the period. Finally, Avestar Capital LLC raised its position in shares of Truist Financial by 4.1% during the 4th quarter. Avestar Capital LLC now owns 6,299 shares of the insurance provider's stock valued at $273,000 after purchasing an additional 250 shares during the period. Institutional investors own 71.28% of the company's stock.

Truist Financial Stock Down 0.3%

Shares of NYSE TFC opened at $41.21 on Thursday. The business has a 50-day moving average of $38.78 and a two-hundred day moving average of $43.26. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $53.97 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth 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.

Truist Financial (NYSE:TFC - Get Free Report) last announced its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. The company had revenue of $4.95 billion for the quarter, compared to the consensus estimate 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 business posted $0.90 EPS. On average, analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal 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 given a $0.52 dividend. The ex-dividend date is Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.05%. Truist Financial's dividend payout ratio is currently 61.36%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TFC. Piper Sandler decreased their price target on Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Baird R W raised shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. StockNews.com upgraded shares of Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Citigroup dropped their target price on shares of Truist Financial from $51.00 to $44.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Finally, Robert W. Baird upgraded 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 report on Wednesday, March 5th. 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 stock. Based on data from MarketBeat, Truist Financial has a consensus rating of "Moderate Buy" and an average target price of $48.06.

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.

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