Congress Wealth Management LLC DE acquired a new position in Truist Financial Co. (NYSE:TFC – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,247 shares of the insurance provider’s stock, valued at approximately $424,000.
A number of other institutional investors have also made changes to their positions in the stock. Atria Investments LLC lifted its stake in Truist Financial by 2.8% in the 4th quarter. Atria Investments LLC now owns 109,721 shares of the insurance provider’s stock worth $6,424,000 after acquiring an additional 3,031 shares in the last quarter. Destination Wealth Management acquired a new position in Truist Financial in the 4th quarter worth about $207,000. Empirical Finance LLC increased its position in Truist Financial by 21.3% in the 4th quarter. Empirical Finance LLC now owns 20,656 shares of the insurance provider’s stock worth $1,209,000 after purchasing an additional 3,633 shares during the last quarter. Advisor Partners LLC increased its position in Truist Financial by 1.6% in the 4th quarter. Advisor Partners LLC now owns 45,799 shares of the insurance provider’s stock worth $2,682,000 after purchasing an additional 736 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Truist Financial by 4.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 289,706 shares of the insurance provider’s stock valued at $16,962,000 after acquiring an additional 12,473 shares during the last quarter. 71.85% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on the company. Bank of America lowered Truist Financial from a “buy” rating to a “neutral” rating and set a $58.00 price objective on the stock. in a report on Friday, April 8th. StockNews.com assumed coverage on Truist Financial in a report on Thursday, March 31st. They issued a “hold” rating on the stock. UBS Group raised Truist Financial from a “neutral” rating to a “buy” rating and raised their target price for the company from $63.00 to $77.00 in a report on Wednesday, January 19th. Barclays raised their target price on Truist Financial from $64.00 to $72.00 in a report on Monday, January 3rd. Finally, Morgan Stanley lowered their target price on Truist Financial from $72.00 to $63.00 and set an “equal weight” rating on the stock in a report on Monday, March 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $66.15.
Truist Financial stock opened at $52.01 on Wednesday. The business has a 50 day simple moving average of $58.36 and a 200 day simple moving average of $60.73. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.08 and a quick ratio of 0.07. Truist Financial Co. has a one year low of $50.29 and a one year high of $68.95. The company has a market capitalization of $69.12 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 1.80 and a beta of 1.15.
Truist Financial (NYSE:TFC – Get Rating) last issued its quarterly earnings data on Tuesday, April 19th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.10. Truist Financial had a return on equity of 12.36% and a net margin of 27.30%. The firm had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter in the previous year, the company posted $1.18 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. Equities analysts anticipate that Truist Financial Co. will post 4.87 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 1st. Shareholders of record on Friday, February 11th were given a $0.48 dividend. The ex-dividend date of this dividend was Thursday, February 10th. This represents a $1.92 annualized dividend and a yield of 3.69%. Truist Financial’s payout ratio is 42.95%.
Truist Financial Company Profile (Get Rating)
Truist Financial Corporation, a holding 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.
- Get a free copy of the StockNews.com research report on Truist Financial (TFC)
- Is Turning Point Therapeutics Stock at a Turning Point?
- Buy Haliburton On Post-Earnings Weakness
- Constellation Brands Stock is Launching Towards New Highs
- 3 Analyst Favorite Blue-Chip Stocks to Buy Now
- Does PNC Financial Stock Belong in Your Portfolio?
Receive News & Ratings for Truist Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Truist Financial and related companies with MarketBeat.com's FREE daily email newsletter.