Truist Financial Co. (NYSE:TFC) Shares Purchased by Prudential PLC

Prudential PLC boosted its position in shares of Truist Financial Co. (NYSE:TFC) by 55.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 58,076 shares of the insurance provider’s stock after acquiring an additional 20,701 shares during the quarter. Prudential PLC’s holdings in Truist Financial were worth $2,519,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Bangor Savings Bank increased its stake in shares of Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 272 shares during the period. Hopwood Financial Services Inc. acquired a new stake in Truist Financial during the 4th quarter worth about $26,000. Curio Wealth LLC purchased a new position in shares of Truist Financial during the 4th quarter valued at about $45,000. City State Bank lifted its holdings in shares of Truist Financial by 158.1% in the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after buying an additional 716 shares during the period. Finally, Brown Lisle Cummings Inc. purchased a new stake in shares of Truist Financial in the fourth quarter worth about $55,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 6.0 %

Shares of Truist Financial stock opened at $34.80 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The stock’s 50 day simple moving average is $43.97 and its 200-day simple moving average is $44.34. The stock has a market cap of $45.43 billion, a P/E ratio of 10.45, a P/E/G ratio of 1.63 and a beta of 0.91. Truist Financial Co. has a 1-year low of $32.12 and a 1-year high of $49.06.

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

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TFC. JPMorgan Chase & Co. decreased their price target on Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday. Morgan Stanley increased their price target on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Stephens lifted their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, January 7th. Finally, Barclays lifted their price target on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.42.

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.