Sumitomo Mitsui DS Asset Management Company Ltd Sells 753 Shares of Truist Financial Co. (NYSE:TFC)

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its stake in Truist Financial Co. (NYSE:TFCFree Report) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 171,433 shares of the insurance provider’s stock after selling 753 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Truist Financial were worth $6,329,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Fairfield Bush & CO. acquired a new position in Truist Financial during the 1st quarter valued at about $25,000. United Bank increased its position in Truist Financial by 4.1% during the 1st quarter. United Bank now owns 74,457 shares of the insurance provider’s stock valued at $4,222,000 after buying an additional 2,938 shares in the last quarter. Panagora Asset Management Inc. increased its position in Truist Financial by 33.3% during the 1st quarter. Panagora Asset Management Inc. now owns 26,365 shares of the insurance provider’s stock valued at $1,495,000 after buying an additional 6,593 shares in the last quarter. Vontobel Holding Ltd. increased its position in Truist Financial by 3.3% during the 1st quarter. Vontobel Holding Ltd. now owns 22,951 shares of the insurance provider’s stock valued at $1,348,000 after buying an additional 738 shares in the last quarter. Finally, Blair William & Co. IL increased its position in Truist Financial by 8.1% during the 1st quarter. Blair William & Co. IL now owns 56,690 shares of the insurance provider’s stock valued at $3,214,000 after buying an additional 4,234 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

TFC has been the topic of several recent analyst reports. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. Piper Sandler upped their target price on Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, January 19th. HSBC boosted their price target on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. TheStreet downgraded Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. Finally, Wells Fargo & Company boosted their price target on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $41.56.

Read Our Latest Stock Analysis on TFC

Truist Financial Stock Up 3.1 %

Shares of TFC opened at $36.80 on Monday. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $39.29. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $49.11 billion, a price-to-earnings ratio of -34.07, a PEG ratio of 2.27 and a beta of 1.08. The stock’s 50-day moving average price is $36.64 and its 200-day moving average price is $34.54.

Truist Financial (NYSE:TFCGet Free Report) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The company had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. Truist Financial’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.09 earnings per share. On average, sell-side analysts predict that Truist Financial Co. will post 3.33 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 5.65%. Truist Financial’s dividend payout ratio is currently -192.59%.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now owns 16,132 shares in the company, valued at $604,627.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is currently owned by company insiders.

Truist Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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