Invesco Ltd. Acquires 1,101,256 Shares of Truist Financial Co. (NYSE:TFC)

Invesco Ltd. lifted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 12.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 9,951,283 shares of the insurance provider’s stock after acquiring an additional 1,101,256 shares during the period. Invesco Ltd. owned approximately 0.75% of Truist Financial worth $431,687,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in TFC. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Truist Financial by 48.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock valued at $129,000 after purchasing an additional 971 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Truist Financial by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after buying an additional 50,637 shares during the period. Country Club Bank boosted its stake in Truist Financial by 719.8% in the 4th quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock valued at $1,973,000 after buying an additional 39,949 shares in the last quarter. David Wealth Management LLC bought a new stake in Truist Financial in the fourth quarter valued at $2,354,000. Finally, Glass Wealth Management Co LLC raised its stake in Truist Financial by 9.5% during the fourth quarter. Glass Wealth Management Co LLC now owns 67,978 shares of the insurance provider’s stock worth $2,949,000 after acquiring an additional 5,900 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Performance

Shares of Truist Financial stock opened at $34.87 on Wednesday. The company has a 50 day moving average of $43.22 and a 200-day moving average of $44.16. The company has a market cap of $45.51 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. 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 Co. has a 1-year low of $33.56 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The firm 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 revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 EPS. As a group, equities research analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio is 62.46%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TFC. Stephens upped their target price on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, January 7th. Barclays raised their target price 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. Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.22.

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.