Truist Financial Co. (NYSE:TFC) Shares Sold by Aviva PLC

Aviva PLC lowered its position in Truist Financial Co. (NYSE:TFC) by 8.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 807,280 shares of the insurance provider’s stock after selling 71,377 shares during the quarter. Aviva PLC’s holdings in Truist Financial were worth $35,020,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TFC. Norges Bank purchased a new stake in Truist Financial during the 4th quarter worth approximately $402,828,000. Raymond James Financial Inc. bought a new stake in shares of Truist Financial in the fourth quarter worth $198,051,000. Amundi raised its holdings in 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 acquiring an additional 1,450,323 shares in the last quarter. KBC Group NV boosted its stake in Truist Financial by 96.9% during the 4th quarter. KBC Group NV now owns 2,031,893 shares of the insurance provider’s stock valued at $88,144,000 after acquiring an additional 999,763 shares during the last quarter. Finally, ExodusPoint Capital Management LP bought a new stake in shares of Truist Financial in the 4th quarter worth about $40,651,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TFC shares. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $48.00 to $52.00 in a research report on Wednesday, March 5th. Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. lowered 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. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.42.

Truist Financial Trading Down 6.0 %

Shares of TFC stock opened at $34.80 on Monday. Truist Financial Co. has a 1 year low of $32.12 and a 1 year high of $49.06. The firm has a market capitalization of $45.43 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. The stock has a fifty day moving average of $43.97 and a two-hundred day moving average of $44.34. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. 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 company posted $0.81 earnings per share. As a group, research analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

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

Truist Financial Company 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.