Natixis Advisors L.P. Has $13.78 Million Stock Holdings in Truist Financial Co. (NYSE:TFC)

Natixis Advisors L.P. boosted its position in Truist Financial Co. (NYSE:TFC) by 30.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 373,375 shares of the insurance provider’s stock after purchasing an additional 88,035 shares during the period. Natixis Advisors L.P.’s holdings in Truist Financial were worth $13,783,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. North Reef Capital Management LP acquired a new position in shares of Truist Financial during the 3rd quarter worth approximately $66,804,000. Assenagon Asset Management S.A. raised its position in shares of Truist Financial by 342.2% in the third quarter. Assenagon Asset Management S.A. now owns 2,526,939 shares of the insurance provider’s stock valued at $72,296,000 after purchasing an additional 1,955,448 shares during the period. Jennison Associates LLC lifted its stake in shares of Truist Financial by 45.1% during the 3rd quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock worth $105,102,000 after buying an additional 1,141,944 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Truist Financial by 3,359.6% during the 4th quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock worth $38,602,000 after buying an additional 1,015,338 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Truist Financial by 1,155.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,054,500 shares of the insurance provider’s stock valued at $30,169,000 after buying an additional 970,500 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 0.8 %

Shares of TFC stock opened at $39.11 on Wednesday. Truist Financial Co. has a fifty-two week low of $26.49 and a fifty-two week high of $40.35. The stock’s fifty day moving average price is $37.34 and its two-hundred day moving average price is $35.39. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $52.20 billion, a PE ratio of -29.63, a P/E/G ratio of 2.03 and a beta of 1.07.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the firm posted $1.09 earnings per share. Truist Financial’s revenue was down 8.8% compared to the same quarter last year. Equities analysts predict that Truist Financial Co. will post 3.3 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be paid a $0.52 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.32%. Truist Financial’s payout ratio is currently -157.58%.

Analysts Set New Price Targets

TFC has been the subject of a number of research analyst reports. Morgan Stanley restated an “equal weight” rating and set a $43.00 price objective on shares of Truist Financial in a report on Monday, April 22nd. Piper Sandler upped their price objective on Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, January 19th. Wells Fargo & Company lifted their target price on Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Finally, Royal Bank of Canada lifted their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Eight analysts have rated the stock with a hold rating and ten have issued a 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 $41.88.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the transaction, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by insiders.

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.