Truist Financial Co. (NYSE:TFC) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its position in Truist Financial Co. (NYSE:TFC) by 781.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,989 shares of the insurance provider’s stock after acquiring an additional 70,030 shares during the quarter. Teacher Retirement System of Texas’ holdings in Truist Financial were worth $3,427,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TFC. Thrivent Financial for Lutherans raised its holdings in shares of Truist Financial by 17.6% during the third quarter. Thrivent Financial for Lutherans now owns 82,255 shares of the insurance provider’s stock worth $3,518,000 after purchasing an additional 12,300 shares during the period. Quest Partners LLC grew its position in shares of Truist Financial by 81.1% during the 3rd quarter. Quest Partners LLC now owns 4,754 shares of the insurance provider’s stock valued at $203,000 after buying an additional 2,129 shares during the last quarter. Intech Investment Management LLC raised its stake in Truist Financial by 34.5% during the third quarter. Intech Investment Management LLC now owns 19,390 shares of the insurance provider’s stock worth $829,000 after acquiring an additional 4,975 shares during the period. Nwam LLC bought a new position in Truist Financial in the third quarter worth about $348,000. Finally, Cerity Partners LLC boosted its stake in Truist Financial by 0.8% in the third quarter. Cerity Partners LLC now owns 543,110 shares of the insurance provider’s stock valued at $23,229,000 after acquiring an additional 4,088 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Up 1.8 %

NYSE TFC opened at $42.17 on Tuesday. Truist Financial Co. has a 12 month low of $35.09 and a 12 month high of $49.06. The company has a market capitalization of $55.04 billion, a P/E ratio of 12.66, a PEG ratio of 1.63 and a beta of 1.08. The company’s 50 day simple moving average is $45.10 and its 200 day simple moving average is $44.45. 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 Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.81 EPS. Equities 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 announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

Analyst Ratings Changes

Several analysts recently issued reports on TFC shares. Barclays raised their price target on Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Piper Sandler raised their target price on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $48.00 to $52.00 in a research report on Wednesday, March 5th. Citigroup cut their price objective on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Stephens upped their target price on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.79.

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.