Schroder Investment Management Group Has $52.54 Million Holdings in Truist Financial Co. (NYSE:TFC)

Schroder Investment Management Group raised its position in Truist Financial Co. (NYSE:TFC – Get Rating) by 25.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,220,978 shares of the insurance provider’s stock after purchasing an additional 244,193 shares during the period. Schroder Investment Management Group’s holdings in Truist Financial were worth $52,539,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TFC. Fairfield Bush & CO. purchased a new stake in Truist Financial in the 1st quarter valued at about $25,000. United Bank grew its position in shares of 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 acquiring an additional 2,938 shares during the period. Panagora Asset Management Inc. grew its position in shares of 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 acquiring an additional 6,593 shares during the period. Vontobel Holding Ltd. boosted its holdings in Truist Financial by 3.3% in the 1st quarter. Vontobel Holding Ltd. now owns 22,951 shares of the insurance provider’s stock worth $1,348,000 after buying an additional 738 shares during the period. Finally, Blair William & Co. IL boosted its holdings in Truist Financial by 8.1% in the 1st quarter. Blair William & Co. IL now owns 56,690 shares of the insurance provider’s stock worth $3,214,000 after buying an additional 4,234 shares during the period. Hedge funds and other institutional investors own 72.49% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the subject of several analyst reports. Keefe, Bruyette & Woods raised shares of Truist Financial from an “underperform” rating to a “market perform” rating and cut their price target for the company from $47.00 to $45.00 in a report on Sunday, March 12th. Barclays dropped their price objective on shares of Truist Financial from $57.00 to $44.00 in a report on Wednesday, April 12th. Morgan Stanley cut their target price on shares of Truist Financial from $42.00 to $41.00 and set an “equal weight” rating for the company in a research report on Friday, April 21st. JPMorgan Chase & Co. cut their target price on shares of Truist Financial from $50.00 to $41.00 and set a “neutral” rating for the company in a research report on Monday, April 10th. Finally, TheStreet lowered shares of Truist Financial from a “b” rating to a “c+” rating in a research report on Friday, March 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and an average target price of $46.24.

Truist Financial Trading Up 0.4 %

TFC stock traded up $0.11 during trading on Friday, reaching $30.64. The company had a trading volume of 512,155 shares, compared to its average volume of 12,982,847. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $53.34. The business has a 50 day moving average of $31.31 and a 200 day moving average of $40.34. The company has a market cap of $40.81 billion, a P/E ratio of 6.80, a PEG ratio of 1.58 and a beta of 1.05. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC – Get Rating) last announced its earnings results on Thursday, April 20th. The insurance provider reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Truist Financial had a net margin of 22.81% and a return on equity of 12.37%. The business had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $6.09 billion. During the same period in the prior year, the business posted $1.23 EPS. Truist Financial’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, sell-side analysts forecast that Truist Financial Co. will post 4.3 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, May 12th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.79%. The ex-dividend date is Thursday, May 11th. Truist Financial’s dividend payout ratio is 46.33%.

Insider Activity

In other news, Director David M. Ratcliffe purchased 13,125 shares of the business’s stock in a transaction dated Friday, March 10th. The shares were purchased at an average price of $38.08 per share, for a total transaction of $499,800.00. Following the completion of the acquisition, the director now directly owns 39,025 shares in the company, valued at approximately $1,486,072. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director David M. Ratcliffe bought 13,125 shares of the business’s stock in a transaction on Friday, March 10th. The stock was acquired at an average price of $38.08 per share, with a total value of $499,800.00. Following the transaction, the director now owns 39,025 shares in the company, valued at approximately $1,486,072. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles A. Patton purchased 3,668 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The stock was purchased at an average price of $19.00 per share, for a total transaction of $69,692.00. Following the completion of the purchase, the director now owns 3,668 shares in the company, valued at $69,692. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company’s stock.

Truist Financial Profile

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Truist Financial Corp. is a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. It operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, Insurance Holdings, and Other, Treasury & Corporate.