American Century Companies Inc. Increases Holdings in Truist Financial Co. (NYSE:TFC)

American Century Companies Inc. increased its stake in Truist Financial Co. (NYSE:TFC) by 7.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 9,882,885 shares of the insurance provider’s stock after buying an additional 722,749 shares during the quarter. American Century Companies Inc.’s holdings in Truist Financial were worth $428,720,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Bangor Savings Bank grew its position in shares of Truist Financial by 92.5% in 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. bought a new stake in Truist Financial during the fourth quarter valued at $26,000. Curio Wealth LLC bought a new stake in Truist Financial during the fourth quarter valued at $45,000. City State Bank boosted 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 valued at $51,000 after buying an additional 716 shares during the period. Finally, True Wealth Design LLC bought a new stake in Truist Financial during the third quarter valued at $51,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TFC has been the subject of several research analyst reports. Raymond James lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. The Goldman Sachs Group lifted their price objective on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Barclays lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Keefe, Bruyette & Woods lifted their price target on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Finally, HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, January 7th. Nine investment 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 company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.16.

Truist Financial Stock Up 0.2 %

Shares of NYSE:TFC opened at $41.41 on Friday. Truist Financial Co. has a 1 year low of $35.09 and a 1 year high of $49.06. The company has a market cap of $54.05 billion, a PE ratio of 12.43, a P/E/G ratio of 1.63 and a beta of 1.08. 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 stock’s 50-day moving average is $45.12 and its 200 day moving average is $44.45.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the previous year, the business earned $0.81 EPS. Truist Financial’s revenue was up 3.4% compared to the same quarter last year. Sell-side analysts anticipate that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.02%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio is currently 62.46%.

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.