Horizon Investments LLC Raises Stock Position in Truist Financial Co. (NYSE:TFC)

Horizon Investments LLC lifted its position in Truist Financial Co. (NYSE:TFC) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,606 shares of the insurance provider’s stock after purchasing an additional 442 shares during the period. Horizon Investments LLC’s holdings in Truist Financial were worth $1,067,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its stake in 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 acquiring an additional 2,720,223 shares during the period. Geode Capital Management LLC lifted its stake in shares of Truist Financial by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock worth $1,169,350,000 after purchasing an additional 456,412 shares during the last quarter. Amundi grew its stake in Truist Financial by 6.5% in the fourth quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock valued at $1,040,718,000 after purchasing an additional 1,450,323 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Truist Financial by 3.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,431,037 shares of the insurance provider’s stock worth $403,365,000 after purchasing an additional 288,306 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Truist Financial by 8.5% during the fourth quarter. Bank of New York Mellon Corp now owns 8,484,992 shares of the insurance provider’s stock valued at $368,079,000 after buying an additional 662,179 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TFC. Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Keefe, Bruyette & Woods upped their price target on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Robert W. Baird raised Truist Financial from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $48.00 to $52.00 in a research report on Wednesday, March 5th. The Goldman Sachs Group increased their price target on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Compass Point boosted their price target on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.16.

Truist Financial Stock Up 1.1 %

NYSE:TFC opened at $41.29 on Thursday. The firm has a market capitalization of $53.90 billion, a P/E ratio of 12.40, a PEG ratio of 1.63 and a beta of 1.08. The company’s fifty day moving average price is $45.20 and its 200-day moving average price is $44.50. Truist Financial Co. has a 1-year low of $35.09 and a 1-year high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the business posted $0.81 EPS. The company’s revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts anticipate that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s payout ratio is presently 62.46%.

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.