Truist Financial Co. (NYSE:TFC) Stock Holdings Lessened by LSV Asset Management

LSV Asset Management lessened its stake in shares of Truist Financial Co. (NYSE:TFC) by 4.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,731,000 shares of the insurance provider’s stock after selling 74,300 shares during the period. LSV Asset Management owned about 0.13% of Truist Financial worth $63,909,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TFC. Robeco Institutional Asset Management B.V. lifted its stake in Truist Financial by 10.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 348,299 shares of the insurance provider’s stock valued at $9,965,000 after buying an additional 33,362 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Truist Financial by 4.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 764,736 shares of the insurance provider’s stock worth $21,879,000 after purchasing an additional 33,260 shares during the period. Stratos Wealth Partners LTD. boosted its stake in Truist Financial by 4.8% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 61,154 shares of the insurance provider’s stock worth $1,750,000 after purchasing an additional 2,781 shares during the period. Forsta AP Fonden grew its position in Truist Financial by 4.7% during the 3rd quarter. Forsta AP Fonden now owns 311,400 shares of the insurance provider’s stock worth $8,909,000 after purchasing an additional 14,100 shares in the last quarter. Finally, WealthShield Partners LLC raised its stake in Truist Financial by 318.1% during the 3rd quarter. WealthShield Partners LLC now owns 30,811 shares of the insurance provider’s stock valued at $882,000 after purchasing an additional 23,442 shares during the period. 71.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

TFC has been the topic of a number of research analyst reports. UBS Group lifted their price target on Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 5th. Royal Bank of Canada lifted their price target on Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, January 19th. TheStreet downgraded Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. HSBC lifted their price target on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a report on Thursday, March 28th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $43.00 target price on shares of Truist Financial in a research note on Monday, April 22nd. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and a consensus target price of $41.88.

Truist Financial Stock Performance

Shares of NYSE:TFC traded up $0.50 on Friday, reaching $38.85. The company had a trading volume of 8,081,419 shares, compared to its average volume of 8,655,990. Truist Financial Co. has a twelve month low of $25.56 and a twelve month high of $39.29. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a 50-day moving average price of $37.16 and a 200 day moving average price of $35.14.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the previous year, the firm earned $1.09 EPS. The firm’s revenue was down 8.8% compared to the same quarter last year. On average, equities research analysts predict that Truist Financial Co. will post 3.3 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.35%. Truist Financial’s dividend payout ratio is presently -157.58%.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the transaction, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is owned by insiders.

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.