HighTower Advisors LLC Purchases 217,832 Shares of Truist Financial Co. (NYSE:TFC)

HighTower Advisors LLC lifted its position in Truist Financial Co. (NYSE:TFC) by 5.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,119,723 shares of the insurance provider’s stock after acquiring an additional 217,832 shares during the period. HighTower Advisors LLC owned 0.31% of Truist Financial worth $178,714,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new stake in Truist Financial during the 4th quarter valued at about $198,051,000. State Street Corp lifted its stake in shares of Truist Financial by 4.6% in the third quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after buying an additional 2,720,223 shares in the last quarter. Amundi increased its position in shares of Truist Financial by 6.5% during the fourth quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock valued at $1,040,718,000 after acquiring an additional 1,450,323 shares in the last quarter. KBC Group NV raised its holdings in Truist Financial by 96.9% in the 4th quarter. KBC Group NV now owns 2,031,893 shares of the insurance provider’s stock worth $88,144,000 after acquiring an additional 999,763 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Truist Financial by 8.5% in the 4th quarter. Bank of New York Mellon Corp now owns 8,484,992 shares of the insurance provider’s stock worth $368,079,000 after acquiring an additional 662,179 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TFC. Citigroup upped their price objective on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Baird R W raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. The Goldman Sachs Group upped their price objective on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Wells Fargo & Company upped their price objective on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Morgan Stanley upped their price objective on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.16.

Truist Financial Trading Down 1.0 %

Shares of TFC stock opened at $39.96 on Wednesday. Truist Financial Co. has a 52-week low of $34.51 and a 52-week high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $52.16 billion, a PE ratio of 12.00, a PEG ratio of 1.63 and a beta of 1.08. The stock has a fifty day simple moving average of $45.60 and a two-hundred day simple moving average of $44.65.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. Truist Financial’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.81 EPS. On average, analysts predict that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.52 per share. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.21%. Truist Financial’s payout ratio is 62.46%.

Truist Financial Profile

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.