Citigroup Inc. Sells 164,923 Shares of Truist Financial Co. (NYSE:TFC)

Citigroup Inc. reduced its stake in Truist Financial Co. (NYSE:TFCFree Report) by 10.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,423,300 shares of the insurance provider’s stock after selling 164,923 shares during the period. Citigroup Inc. owned approximately 0.11% of Truist Financial worth $40,721,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. State Street Corp boosted its position in shares of Truist Financial by 1.8% during the second quarter. State Street Corp now owns 59,824,259 shares of the insurance provider’s stock valued at $1,815,666,000 after buying an additional 1,056,703 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Truist Financial by 2.2% during the second quarter. Geode Capital Management LLC now owns 24,458,354 shares of the insurance provider’s stock valued at $740,544,000 after buying an additional 526,889 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in shares of Truist Financial by 12,034.8% during 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 buying an additional 20,321,500 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Truist Financial by 3.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 17,771,573 shares of the insurance provider’s stock valued at $523,570,000 after buying an additional 575,930 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of Truist Financial by 32.6% during the fourth quarter. Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock valued at $667,443,000 after buying an additional 3,813,439 shares during the last quarter. 71.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TFC has been the topic of several recent analyst reports. Bank of America raised Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Thursday, January 4th. TheStreet raised Truist Financial from a “c+” rating to a “b-” rating in a research report on Tuesday, January 9th. Barclays raised their target price on Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada raised their target price on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Finally, UBS Group raised their target price on Truist Financial from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $39.87.

Get Our Latest Stock Report on TFC

Truist Financial Trading Up 0.9 %

NYSE TFC opened at $35.84 on Monday. The stock’s 50-day moving average price is $36.44 and its 200-day moving average price is $32.14. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $49.32.

Truist Financial (NYSE:TFCGet Free Report) last posted its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.68 by $0.13. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same quarter last year, the company earned $1.30 earnings per share. Equities research analysts predict that Truist Financial Co. will post 3.39 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 9th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.80%. The ex-dividend date is Thursday, February 8th. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.

About Truist Financial

(Free Report)

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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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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