Magnetar Financial LLC Purchases 4,986 Shares of Truist Financial Co. (NYSE:TFC)

Magnetar Financial LLC raised its stake in Truist Financial Co. (NYSE:TFC) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 129,601 shares of the insurance provider’s stock after acquiring an additional 4,986 shares during the period. Magnetar Financial LLC’s holdings in Truist Financial were worth $5,622,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TFC. State Street Corp lifted its stake in 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 grew its stake 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 purchasing an additional 456,412 shares in the last quarter. Amundi lifted its position in shares of Truist Financial by 6.5% in the fourth quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock valued at $1,040,718,000 after buying an additional 1,450,323 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Truist Financial by 3.2% during 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 last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Truist Financial by 8.5% during the 4th quarter. Bank of New York Mellon Corp now owns 8,484,992 shares of the insurance provider’s stock worth $368,079,000 after purchasing an additional 662,179 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Up 1.1 %

TFC stock opened at $41.29 on Thursday. Truist Financial Co. has a 52 week low of $35.09 and a 52 week high of $49.06. The company has a market cap of $53.90 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.63 and a beta of 1.08. 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 company’s 50-day moving average price is $45.20 and its 200 day moving average price is $44.50.

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

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.04%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TFC shares. Compass Point upped their price objective on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and upped their target price for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th. Stephens increased their price target on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. The Goldman Sachs Group raised their target price on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Baird R W raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Nine 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.16.

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.