Mitsubishi UFJ Asset Management Co. Ltd. Acquires 140,585 Shares of Truist Financial Co. (NYSE:TFC)

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Truist Financial Co. (NYSE:TFC) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,073,644 shares of the insurance provider’s stock after purchasing an additional 140,585 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of Truist Financial worth $91,448,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its stake in shares of Truist Financial by 4.6% in the third quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after buying an additional 2,720,223 shares during the period. Geode Capital Management LLC boosted its holdings in Truist Financial by 1.7% in the third quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock valued at $1,169,350,000 after acquiring an additional 456,412 shares during the last quarter. Amundi increased its position in 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 during the period. American Century Companies Inc. raised its holdings in Truist Financial by 7.9% during the 4th quarter. American Century Companies Inc. now owns 9,882,885 shares of the insurance provider’s stock worth $428,720,000 after purchasing an additional 722,749 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Truist Financial by 3.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,431,037 shares of the insurance provider’s stock worth $403,365,000 after purchasing an additional 288,306 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $41.42 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a market cap of $54.07 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The stock’s fifty day simple moving average is $44.93 and its two-hundred day simple moving average is $44.41. Truist Financial Co. has a 1-year low of $35.09 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the firm posted $0.81 EPS. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, analysts forecast that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date was Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

Wall Street Analysts Forecast Growth

TFC has been the subject of a number of analyst reports. Barclays lifted their target price 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. Piper Sandler lifted their price objective on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Morgan Stanley upped their target price on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Keefe, Bruyette & Woods lifted their target price on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Finally, Compass Point increased their price target on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

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.