Sompo Asset Management Co. Ltd. Has $4.62 Million Holdings in Truist Financial Co. (NYSE:TFC)

Sompo Asset Management Co. Ltd. boosted its holdings in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 65.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,485 shares of the insurance provider's stock after buying an additional 42,295 shares during the period. Sompo Asset Management Co. Ltd.'s holdings in Truist Financial were worth $4,619,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bangor Savings Bank raised its position in Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider's stock worth $25,000 after purchasing an additional 272 shares in the last quarter. Hopwood Financial Services Inc. acquired a new stake in Truist Financial in the 4th quarter valued at $26,000. Curio Wealth LLC bought a new stake in Truist Financial in the fourth quarter valued at $45,000. City State Bank raised its stake in Truist Financial by 158.1% during the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider's stock worth $51,000 after acquiring an additional 716 shares in the last quarter. Finally, Brown Lisle Cummings Inc. acquired a new position in Truist Financial during the fourth quarter worth $55,000. Institutional investors own 71.28% of the company's stock.

Truist Financial Trading Up 1.0 %

NYSE:TFC traded up $0.37 during trading hours on Monday, hitting $38.04. The stock had a trading volume of 5,252,495 shares, compared to its average volume of 8,143,838. The company has a market cap of $49.65 billion, a price-to-earnings ratio of 11.42, a P/E/G ratio of 1.63 and a beta of 0.91. Truist Financial Co. has a one year low of $33.56 and a one year high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The business's 50 day moving average is $40.22 and its 200-day moving average is $43.62.

Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. The business had revenue of $4.95 billion for the quarter, compared to analysts' expectations of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same quarter in the previous year, the business posted $0.90 EPS. Sell-side analysts anticipate that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.47%. The ex-dividend date was Friday, February 14th. Truist Financial's dividend payout ratio (DPR) is presently 61.36%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TFC shares. 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. StockNews.com cut shares of Truist Financial from a "hold" rating to a "sell" rating in a research note on Monday. HSBC upgraded Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Morgan Stanley reduced their price objective on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Monday, April 7th. Finally, Keefe, Bruyette & Woods cut their price target on Truist Financial from $53.00 to $47.00 and set an "outperform" rating for the company in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.