Truist Financial Co. (NYSE:TFC) Shares Bought by BHK Investment Advisors LLC

BHK Investment Advisors LLC grew its holdings in shares of Truist Financial Co. (NYSE:TFC) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,367 shares of the insurance provider’s stock after buying an additional 425 shares during the period. Truist Financial accounts for about 0.5% of BHK Investment Advisors LLC’s investment portfolio, making the stock its 24th biggest holding. BHK Investment Advisors LLC’s holdings in Truist Financial were worth $1,274,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp boosted its position in Truist Financial by 4.6% during the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after acquiring an additional 2,720,223 shares during the period. Geode Capital Management LLC lifted its holdings 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 worth $1,169,350,000 after purchasing an additional 456,412 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Truist Financial by 3.2% in 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 valued at $403,365,000 after buying an additional 288,306 shares in the last quarter. FMR LLC increased its stake in Truist Financial by 10.6% during the 3rd quarter. FMR LLC now owns 5,003,106 shares of the insurance provider’s stock valued at $213,983,000 after buying an additional 478,886 shares during the period. Finally, HighTower Advisors LLC increased its stake in Truist Financial by 26.1% during the 3rd quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock valued at $166,892,000 after buying an additional 807,648 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the transaction, the director now directly owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company’s stock.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $45.31 on Tuesday. The company has a market capitalization of $60.15 billion, a P/E ratio of 13.61, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. 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 Co. has a one year low of $34.26 and a one year high of $49.06. The business’s 50-day moving average price is $45.61 and its two-hundred day moving average price is $44.54.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $5.11 billion for 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 firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.81 earnings per share. Analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 4.59%. Truist Financial’s dividend payout ratio (DPR) is currently 62.46%.

Analysts Set New Price Targets

Several research firms have recently issued reports on TFC. Stephens increased their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Wells Fargo & Company increased their price target on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group lifted their price target on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods upped their price objective on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Finally, Piper Sandler lifted their target price on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

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.