MML Investors Services LLC Has $12.21 Million Position in Truist Financial Co. (NYSE:TFC)

MML Investors Services LLC increased its stake in shares of Truist Financial Co. (NYSE:TFC) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,501 shares of the insurance provider’s stock after purchasing an additional 2,910 shares during the quarter. MML Investors Services LLC’s holdings in Truist Financial were worth $12,212,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Capital International Investors lifted its stake in shares of Truist Financial by 26.0% in the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock valued at $3,930,983,000 after acquiring an additional 18,712,246 shares during the last quarter. Geode Capital Management LLC raised its position in Truist Financial by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider’s stock valued at $1,210,348,000 after purchasing an additional 534,740 shares during the last quarter. Amundi boosted its stake in shares of Truist Financial by 6.5% during the fourth 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. FMR LLC grew its holdings in shares of Truist Financial by 109.1% during the fourth quarter. FMR LLC now owns 10,460,159 shares of the insurance provider’s stock worth $453,762,000 after purchasing an additional 5,457,053 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Truist Financial by 12.4% in the fourth quarter. Invesco Ltd. now owns 9,951,283 shares of the insurance provider’s stock valued at $431,687,000 after buying an additional 1,101,256 shares during the period. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC opened at $36.34 on Wednesday. Truist Financial Co. has a one year low of $33.56 and a one year high of $49.06. The company has a market cap of $47.44 billion, a PE ratio of 10.91, a P/E/G ratio of 1.63 and a beta of 0.91. The stock has a 50-day moving average of $40.79 and a 200-day moving average of $43.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting analysts’ consensus estimates of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter last year, the firm posted $0.90 earnings per share. On average, equities research analysts predict that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed 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 dividend yield of 5.72%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is 61.36%.

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of research reports. Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $48.00 to $52.00 in a research report on Wednesday, March 5th. Citigroup reduced their price target on Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Finally, Argus set a $43.00 price target on Truist Financial in a research note on Monday. Nine 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.83.

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.