Freedom Investment Management Inc. Has $659,000 Stake in Truist Financial Co. (NYSE:TFC)

Freedom Investment Management Inc. lifted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 16.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,201 shares of the insurance provider’s stock after purchasing an additional 2,151 shares during the quarter. Freedom Investment Management Inc.’s holdings in Truist Financial were worth $659,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TFC. Frederick Financial Consultants LLC acquired a new stake in Truist Financial during the 4th quarter worth approximately $258,000. Cadence Bank increased its position in shares of Truist Financial by 39.5% during the fourth quarter. Cadence Bank now owns 258,331 shares of the insurance provider’s stock worth $11,206,000 after acquiring an additional 73,147 shares in the last quarter. Capital International Investors raised its holdings in shares of Truist Financial by 26.0% during the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock worth $3,930,983,000 after acquiring an additional 18,712,246 shares during the period. Capital International Sarl lifted its position in Truist Financial by 36.4% in the 4th quarter. Capital International Sarl now owns 9,812 shares of the insurance provider’s stock valued at $426,000 after acquiring an additional 2,620 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Truist Financial by 10.9% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,165,821 shares of the insurance provider’s stock worth $50,559,000 after purchasing an additional 114,776 shares during the period. Institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

TFC has been the topic of several recent research reports. Raymond James downgraded Truist Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. Morgan Stanley cut their target price on Truist Financial from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Monday, April 7th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Sunday. 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 report on Tuesday, January 7th. Finally, Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $48.00 to $52.00 in a report on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.22.

Truist Financial Stock Down 0.3 %

TFC stock opened at $35.88 on Friday. The business’s 50 day simple moving average is $41.21 and its 200 day simple moving average is $43.79. Truist Financial Co. has a 1-year low of $33.56 and a 1-year high of $49.06. The firm has a market capitalization of $46.83 billion, a PE ratio of 10.77, a PEG 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 (NYSE:TFC) last issued its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. During the same period in the prior year, the firm earned $0.90 earnings per share. As a group, research analysts anticipate that Truist Financial Co. will post 4 EPS 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 dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio is presently 61.36%.

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.