Truist Financial Corporation $TFC Shares Purchased by Legal & General Group Plc

by · The Cerbat Gem

Legal & General Group Plc grew its position in shares of Truist Financial Corporation (NYSE:TFC – Free Report) by 0.6% during the fourth quarter, Holdings Channel reports. The firm owned 7,946,971 shares of the insurance provider’s stock after acquiring an additional 44,167 shares during the quarter. Legal & General Group Plc’s holdings in Truist Financial were worth $391,070,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC acquired a new position in Truist Financial during the fourth quarter worth $2,943,000. Todd Asset Management LLC lifted its stake in Truist Financial by 2.2% during the fourth quarter. Todd Asset Management LLC now owns 19,402 shares of the insurance provider’s stock worth $955,000 after purchasing an additional 416 shares in the last quarter. Kuhn & Co Investment Counsel acquired a new position in Truist Financial during the fourth quarter worth $211,000. Swedbank AB lifted its stake in Truist Financial by 18.1% during the fourth quarter. Swedbank AB now owns 839,372 shares of the insurance provider’s stock worth $41,305,000 after purchasing an additional 128,748 shares in the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Truist Financial during the fourth quarter worth $609,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on TFC shares. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Evercore restated an “outperform” rating on shares of Truist Financial in a research note on Thursday, February 5th. Royal Bank Of Canada upped their price target on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. decreased their price target on Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Finally, Jefferies Financial Group restated a “mixed” rating and set a $45.00 price target on shares of Truist Financial in a research note on Friday, April 17th. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.59.

Read Our Latest Stock Analysis on TFC

Truist Financial Stock Up 0.7%

Shares of NYSE TFC opened at $48.70 on Wednesday. The stock has a market cap of $60.67 billion, a P/E ratio of 12.08, a PEG ratio of 0.83 and a beta of 0.92. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a 12-month low of $38.67 and a 12-month high of $56.19. The business’s fifty day simple moving average is $48.05 and its 200-day simple moving average is $48.82.

Truist Financial (NYSE:TFC – Get Free Report) last announced its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the firm earned $0.87 earnings per share. As a group, equities analysts predict that Truist Financial Corporation will post 4.52 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is presently 51.61%.

Truist Financial Profile

(Free Report)

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.

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