AQR Capital Management LLC Has $71.11 Million Holdings in Truist Financial Co. (NYSE:TFC)

AQR Capital Management LLC lessened its holdings in Truist Financial Co. (NYSE:TFC - Free Report) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,639,121 shares of the insurance provider's stock after selling 11,395 shares during the period. AQR Capital Management LLC owned about 0.12% of Truist Financial worth $71,105,000 as of its most recent SEC filing.

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

Truist Financial Stock Down 0.5 %

NYSE TFC traded down $0.20 on Tuesday, reaching $39.16. The company had a trading volume of 1,628,346 shares, compared to its average volume of 8,137,736. The company's fifty day moving average is $39.36 and its 200-day moving average is $43.41. Truist Financial Co. has a 1-year low of $33.56 and a 1-year high of $49.06. The firm has a market capitalization of $51.27 billion, a price-to-earnings ratio of 11.76, 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 quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting analysts' consensus estimates of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the prior year, the firm posted $0.90 EPS. On average, research analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 9th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.31%. Truist Financial's dividend payout ratio is 61.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Piper Sandler dropped their price objective on Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. cut their target price on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Citigroup lowered their price target on Truist Financial from $51.00 to $44.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Morgan Stanley decreased their price objective on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating on the stock in a report on Monday, April 7th. Finally, Argus set a $43.00 price target on Truist Financial in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $47.83.

Truist Financial 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.