Advisors Asset Management Inc. Cuts Holdings in Truist Financial Co. (NYSE:TFC)

Advisors Asset Management Inc. decreased its holdings in Truist Financial Co. (NYSE:TFC) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,156 shares of the insurance provider’s stock after selling 5,763 shares during the period. Advisors Asset Management Inc.’s holdings in Truist Financial were worth $3,868,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its stake in Truist Financial by 17.6% in the third quarter. Thrivent Financial for Lutherans now owns 82,255 shares of the insurance provider’s stock worth $3,518,000 after purchasing an additional 12,300 shares during the last quarter. Quest Partners LLC lifted its stake in Truist Financial by 81.1% in the third quarter. Quest Partners LLC now owns 4,754 shares of the insurance provider’s stock worth $203,000 after purchasing an additional 2,129 shares during the last quarter. Pathstone Holdings LLC lifted its stake in Truist Financial by 0.5% in the third quarter. Pathstone Holdings LLC now owns 166,827 shares of the insurance provider’s stock worth $7,135,000 after purchasing an additional 890 shares during the last quarter. Citizens Financial Group Inc. RI lifted its stake in Truist Financial by 10.9% in the third quarter. Citizens Financial Group Inc. RI now owns 9,548 shares of the insurance provider’s stock worth $408,000 after purchasing an additional 938 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Truist Financial by 7.7% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 483,801 shares of the insurance provider’s stock worth $20,692,000 after purchasing an additional 34,543 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Raymond James raised their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Morgan Stanley raised their target price on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Stephens raised their target price on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group lifted their price objective on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.16.

Truist Financial Stock Up 0.1 %

Shares of NYSE:TFC opened at $41.32 on Friday. The company has a market cap of $53.94 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 1.63 and a beta of 1.08. The firm’s 50-day simple moving average is $45.15 and its 200-day simple moving average is $44.47. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a fifty-two week low of $35.09 and a fifty-two week high of $49.06.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 earnings per share. As a group, equities research analysts predict that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 5.03%. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

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.