Prudential PLC Boosts Stock Position in Truist Financial Co. (NYSE:TFC)

Prudential PLC grew its holdings in Truist Financial Co. (NYSE:TFC) by 55.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 58,076 shares of the insurance provider’s stock after purchasing an additional 20,701 shares during the quarter. Prudential PLC’s holdings in Truist Financial were worth $2,519,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Bangor Savings Bank boosted its stake in shares of Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after buying an additional 272 shares during the period. Hopwood Financial Services Inc. acquired a new position in Truist Financial during the 4th quarter worth approximately $26,000. Curio Wealth LLC purchased a new stake in shares of Truist Financial in the 4th quarter valued at approximately $45,000. City State Bank raised its holdings in shares of Truist Financial by 158.1% in the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 716 shares in the last quarter. Finally, Brown Lisle Cummings Inc. purchased a new stake in shares of Truist Financial during the 4th quarter worth $55,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of TFC opened at $34.80 on Monday. The firm has a market capitalization of $45.43 billion, a PE ratio of 10.45, a P/E/G ratio of 1.63 and a beta of 0.91. The stock’s 50 day moving average is $43.97 and its two-hundred day moving average is $44.34. Truist Financial Co. has a twelve month low of $32.12 and a twelve month high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping 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 firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the prior year, the company posted $0.81 earnings per share. Truist Financial’s quarterly revenue was up 3.4% on a year-over-year basis. Research analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.52 per share. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 5.98%. Truist Financial’s payout ratio is currently 62.46%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. StockNews.com downgraded Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday. Morgan Stanley boosted their target price on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Barclays increased their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Finally, HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and an average price target of $50.42.

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.