Prime Capital Investment Advisors LLC raised its stake in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 2.7% during the third quarter, HoldingsChannel reports. The fund owned 10,399 shares of the insurance provider’s stock after acquiring an additional 270 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Truist Financial were worth $445,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in TFC. CreativeOne Wealth LLC acquired a new position in Truist Financial in the first quarter worth about $516,000. M&G Plc acquired a new position in shares of Truist Financial in the 2nd quarter worth approximately $2,804,000. Dimensional Fund Advisors LP increased its holdings in shares of Truist Financial by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock valued at $346,957,000 after acquiring an additional 299,196 shares during the last quarter. Boston Common Asset Management LLC raised its position in shares of Truist Financial by 66.4% during the 3rd quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock valued at $6,609,000 after acquiring an additional 61,683 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Truist Financial by 10.6% during the first quarter. Russell Investments Group Ltd. now owns 230,604 shares of the insurance provider’s stock worth $8,965,000 after purchasing an additional 22,182 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have weighed in on TFC. The Goldman Sachs Group dropped their target price on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Citigroup lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $45.00 to $47.00 in a research note on Wednesday, July 24th. Compass Point lifted their target price on Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. UBS Group increased their price target on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Argus boosted their price objective on Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $46.37.
View Our Latest Research Report on Truist Financial
Truist Financial Price Performance
Shares of NYSE:TFC opened at $46.55 on Friday. The stock has a market cap of $61.80 billion, a price-to-earnings ratio of -32.55, a PEG ratio of 1.91 and a beta of 1.05. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85. Truist Financial Co. has a 12 month low of $31.13 and a 12 month high of $47.57. The stock’s 50 day moving average price is $43.18 and its 200 day moving average price is $41.22.
Truist Financial (NYSE:TFC – Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.05 billion. Equities research analysts anticipate that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.
Truist Financial Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date is Friday, November 8th. Truist Financial’s payout ratio is -145.45%.
Truist Financial Profile
(Free Report)
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.
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