Mitsubishi UFJ Asset Management Co. Ltd. Increases Holdings in Truist Financial Co. (NYSE:TFC)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Truist Financial Co. (NYSE:TFC) by 7.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,073,644 shares of the insurance provider’s stock after purchasing an additional 140,585 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Truist Financial were worth $91,448,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new position in Truist Financial during the fourth quarter valued at approximately $198,051,000. State Street Corp boosted its holdings in Truist Financial by 4.6% in the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after purchasing an additional 2,720,223 shares during the period. Amundi grew its position in shares of Truist Financial by 6.5% during the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock valued at $1,040,718,000 after purchasing an additional 1,450,323 shares in the last quarter. KBC Group NV increased its holdings in shares of Truist Financial by 96.9% in the fourth quarter. KBC Group NV now owns 2,031,893 shares of the insurance provider’s stock worth $88,144,000 after purchasing an additional 999,763 shares during the period. Finally, HighTower Advisors LLC raised its position in shares of Truist Financial by 26.1% in the third quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock worth $166,892,000 after buying an additional 807,648 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

TFC has been the subject of several recent analyst reports. Citigroup reduced their target price on Truist Financial from $51.00 to $44.00 and set a “neutral” rating for the company in a research report on Monday. HSBC upgraded shares of 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. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Barclays boosted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Finally, Stephens raised their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Stock Down 1.3 %

Shares of NYSE TFC opened at $41.42 on Friday. The firm’s fifty day moving average is $44.93 and its 200 day moving average is $44.41. Truist Financial Co. has a 52 week low of $35.09 and a 52 week high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market cap of $54.07 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) 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 analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 earnings per share. On average, equities research analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently declared 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. This represents a $2.08 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

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.