Truist Financial Co. (NYSE:TFC) Shares Purchased by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. increased its holdings in shares of Truist Financial Co. (NYSE:TFC) by 2.8% during the fourth quarter, HoldingsChannel reports. The fund owned 1,129,580 shares of the insurance provider’s stock after buying an additional 30,591 shares during the period. Royal London Asset Management Ltd.’s holdings in Truist Financial were worth $49,001,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Tradewinds LLC. grew its holdings in Truist Financial by 0.5% during the third quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock worth $1,904,000 after acquiring an additional 222 shares during the period. PBMares Wealth Management LLC grew its holdings in Truist Financial by 0.8% in the fourth quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock valued at $1,270,000 after purchasing an additional 224 shares during the last quarter. Koshinski Asset Management Inc. grew its holdings in Truist Financial by 2.1% in the fourth quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock valued at $470,000 after purchasing an additional 225 shares during the last quarter. Aaron Wealth Advisors LLC grew its holdings in Truist Financial by 3.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock valued at $335,000 after purchasing an additional 227 shares during the last quarter. Finally, FWG Holdings LLC grew its holdings in Truist Financial by 4.3% in the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock valued at $267,000 after purchasing an additional 234 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

Truist Financial stock opened at $41.32 on Friday. The stock’s 50-day moving average is $45.15 and its 200-day moving average is $44.47. The company has a market cap of $53.94 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth 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. Truist Financial Co. has a 12 month low of $35.09 and a 12 month 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 company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the business posted $0.81 EPS. Equities analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have weighed in on TFC. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Citigroup upped their target price on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Barclays upped their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Compass Point upped their price objective on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, January 7th. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.16.

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.