Aviva PLC increased its position in shares of Truist Financial Co. (NYSE:TFC – Free Report) by 20.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 844,956 shares of the insurance provider’s stock after buying an additional 143,969 shares during the quarter. Aviva PLC owned 0.06% of Truist Financial worth $28,813,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Truist Financial by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 23,598,823 shares of the insurance provider’s stock worth $1,013,340,000 after acquiring an additional 134,870 shares in the last quarter. FMR LLC boosted its holdings in Truist Financial by 55.2% during the first quarter. FMR LLC now owns 21,461,191 shares of the insurance provider’s stock worth $731,827,000 after purchasing an additional 7,635,573 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in Truist Financial by 12,034.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock valued at $881,700,000 after purchasing an additional 20,321,500 shares in the last quarter. Amundi increased its stake in Truist Financial by 43.1% in the 4th quarter. Amundi now owns 18,282,723 shares of the insurance provider’s stock valued at $847,671,000 after buying an additional 5,504,325 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Truist Financial by 6.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 17,195,643 shares of the insurance provider’s stock worth $573,063,000 after buying an additional 1,068,032 shares in the last quarter. Institutional investors and hedge funds own 71.11% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. Royal Bank of Canada lowered their target price on Truist Financial from $46.00 to $43.00 in a research report on Tuesday, June 13th. Raymond James upgraded Truist Financial from a “market perform” rating to an “outperform” rating and set a $36.00 price objective on the stock in a research note on Thursday, July 6th. They noted that the move was a valuation call. Morgan Stanley decreased 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 note on Friday, July 21st. Wells Fargo & Company dropped their price target on shares of Truist Financial from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday, July 21st. Finally, Barclays decreased their price objective on shares of Truist Financial from $44.00 to $40.00 in a research report on Tuesday, June 27th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial has a consensus rating of “Hold” and an average target price of $40.82.
Truist Financial Stock Performance
Shares of TFC traded up $0.68 during midday trading on Friday, reaching $31.23. 1,469,756 shares of the stock were exchanged, compared to its average volume of 12,133,554. The stock’s 50 day simple moving average is $31.39 and its 200 day simple moving average is $33.52. The company has a market cap of $41.60 billion, a P/E ratio of 7.07, a PEG ratio of 1.74 and a beta of 1.05. Truist Financial Co. has a twelve month low of $25.56 and a twelve month high of $53.34. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.78.
Truist Financial (NYSE:TFC – Get Free Report) last issued its quarterly earnings data on Thursday, July 20th. The insurance provider reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.08). Truist Financial had a return on equity of 11.73% and a net margin of 20.17%. The business had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.97 billion. During the same quarter last year, the firm earned $1.20 EPS. Truist Financial’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, sell-side analysts expect that Truist Financial Co. will post 3.79 earnings per share for the current year.
Truist Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 6.66%. The ex-dividend date is Thursday, August 10th. Truist Financial’s dividend payout ratio is currently 48.15%.
About Truist Financial
Truist Financial Corporation, a holding 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.
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