UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Position in Truist Financial Co. (NYSE:TFC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 3.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,431,037 shares of the insurance provider’s stock after purchasing an additional 288,306 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.71% of Truist Financial worth $403,365,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. M&G Plc purchased a new position in shares of Truist Financial during the 2nd quarter worth $2,804,000. Dimensional Fund Advisors LP grew its holdings in shares of Truist Financial by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after purchasing an additional 299,196 shares during the period. Boston Common Asset Management LLC grew its holdings 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 worth $6,609,000 after purchasing an additional 61,683 shares during the period. Independent Advisor Alliance grew its holdings in shares of Truist Financial by 10.7% during the 3rd quarter. Independent Advisor Alliance now owns 282,607 shares of the insurance provider’s stock worth $12,087,000 after purchasing an additional 27,408 shares during the period. Finally, PGGM Investments purchased a new position in shares of Truist Financial during the 1st quarter worth $611,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Up 0.1 %

Shares of TFC stock opened at $47.75 on Friday. The business’s 50 day moving average is $44.13 and its two-hundred day moving average is $41.75. Truist Financial Co. has a twelve month low of $31.23 and a twelve month high of $49.06. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, beating the consensus estimate 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. Sell-side analysts expect that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.52 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.36%. Truist Financial’s dividend payout ratio is currently -145.45%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TFC shares. Wells Fargo & Company increased their target price on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Compass Point increased their target price on Truist Financial from $46.00 to $47.00 in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price on Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods increased their target price on Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada increased their target price on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $47.17.

Insider Activity

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 34,180 shares of Truist Financial stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the acquisition, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.17% of the company’s stock.

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.