Caisse Des Depots ET Consignations Purchases New Shares in Truist Financial Co. (NYSE:TFC)

Caisse Des Depots ET Consignations bought a new position in shares of Truist Financial Co. (NYSE:TFC) during the 4th quarter, Holdings Channel reports. The firm bought 52,305 shares of the insurance provider’s stock, valued at approximately $2,269,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PBMares Wealth Management LLC raised its position in shares of Truist Financial by 0.8% during the fourth quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock worth $1,270,000 after acquiring an additional 224 shares during the last quarter. Koshinski Asset Management Inc. boosted its stake in Truist Financial by 2.1% in the 4th quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock worth $470,000 after purchasing an additional 225 shares during the period. Aaron Wealth Advisors LLC grew its holdings in shares of Truist Financial by 3.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock worth $335,000 after buying an additional 227 shares in the last quarter. FWG Holdings LLC grew its stake in shares of Truist Financial by 4.3% during the 4th quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock worth $267,000 after acquiring an additional 234 shares in the last quarter. Finally, Ignite Planners LLC grew its position in Truist Financial by 1.4% in the fourth quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock valued at $772,000 after purchasing an additional 246 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Trading Down 1.3 %

NYSE TFC opened at $41.42 on Friday. The firm has a market capitalization of $54.07 billion, a PE ratio of 12.44, a P/E/G ratio of 1.63 and a beta of 1.08. The stock’s 50 day moving average is $44.93 and its 200 day moving average is $44.41. Truist Financial Co. has a twelve month low of $35.09 and a twelve month high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

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

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio is 62.46%.

Wall Street Analysts Forecast Growth

TFC has been the subject of several analyst reports. Morgan Stanley raised their target price on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Citigroup decreased their price target on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday. Barclays lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Compass Point upped their price target on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Baird R W raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Nine investment 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.79.

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.