Truist Financial Co. (NYSE:TFC) Shares Purchased by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. raised its stake in shares of Truist Financial Co. (NYSE:TFC) by 10.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,023 shares of the insurance provider’s stock after acquiring an additional 1,940 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Truist Financial were worth $856,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TFC. Legal & General Group Plc lifted its position in shares of Truist Financial by 1.0% during the second quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock worth $401,663,000 after purchasing an additional 103,565 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Truist Financial by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after buying an additional 299,196 shares during the last quarter. Truist Financial Corp grew its position in shares of Truist Financial by 6.7% in the 2nd quarter. Truist Financial Corp now owns 4,931,783 shares of the insurance provider’s stock worth $191,600,000 after acquiring an additional 311,523 shares in the last quarter. LPL Financial LLC grew its position in shares of Truist Financial by 21.0% in the 3rd quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock worth $155,288,000 after acquiring an additional 630,628 shares in the last quarter. Finally, National Pension Service increased its holdings in shares of Truist Financial by 14.5% in the 3rd quarter. National Pension Service now owns 3,401,518 shares of the insurance provider’s stock valued at $145,483,000 after acquiring an additional 431,741 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the topic of several research analyst reports. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada raised their price target on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Wells Fargo & Company raised their target price on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Citigroup lifted their target price on Truist Financial from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Truist Financial has an average rating of “Hold” and a consensus target price of $47.17.

Truist Financial Stock Performance

Truist Financial stock opened at $47.71 on Wednesday. The company’s 50-day moving average price is $43.91 and its two-hundred day moving average price is $41.66. Truist Financial Co. has a 52 week low of $31.23 and a 52 week high of $49.06. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.85 and a quick ratio of 0.85.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.89 by $0.08. The firm had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. As a group, analysts expect that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.36%. Truist Financial’s dividend payout ratio (DPR) is -145.45%.

Truist Financial Company 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.