United Capital Financial Advisors LLC Has $1.80 Million Stake in Truist Financial Co. (NYSE:TFC)

United Capital Financial Advisors LLC cut its stake in Truist Financial Co. (NYSE:TFC) by 6.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 41,553 shares of the insurance provider’s stock after selling 2,798 shares during the quarter. United Capital Financial Advisors LLC’s holdings in Truist Financial were worth $1,803,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in Truist Financial by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider’s stock valued at $1,210,348,000 after buying an additional 534,740 shares during the last quarter. Amundi increased its position in shares of Truist Financial by 6.5% during the fourth quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock valued at $1,040,718,000 after acquiring an additional 1,450,323 shares during the last quarter. FMR LLC lifted its holdings in Truist Financial by 109.1% during the fourth quarter. FMR LLC now owns 10,460,159 shares of the insurance provider’s stock worth $453,762,000 after acquiring an additional 5,457,053 shares during the period. Invesco Ltd. boosted its position in Truist Financial by 12.4% in the fourth quarter. Invesco Ltd. now owns 9,951,283 shares of the insurance provider’s stock worth $431,687,000 after purchasing an additional 1,101,256 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Truist Financial by 7.9% in the 4th quarter. American Century Companies Inc. now owns 9,882,885 shares of the insurance provider’s stock valued at $428,720,000 after purchasing an additional 722,749 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

NYSE TFC opened at $35.88 on Friday. The company’s 50 day simple moving average is $41.21 and its two-hundred day simple moving average is $43.78. 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 1 year low of $33.56 and a 1 year high of $49.06. The stock has a market capitalization of $46.83 billion, a PE ratio of 10.77, a P/E/G ratio of 1.63 and a beta of 0.91.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.87. The company had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same quarter last year, the company earned $0.90 earnings per share. Analysts predict 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 $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.80%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TFC shares. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Keefe, Bruyette & Woods boosted their target price on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Morgan Stanley reduced their target price on shares of Truist Financial from $50.00 to $43.00 and set an “equal weight” rating for the company in a research report on Monday, April 7th. StockNews.com cut shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Saturday, April 12th. Finally, Wells Fargo & Company reduced their price objective on Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, March 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.22.

About Truist Financial

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.