Truist Financial Co. (NYSE:TFC) Stock Holdings Lifted by AlphaQuest LLC

AlphaQuest LLC lifted its holdings in Truist Financial Co. (NYSE:TFC) by 127.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,824 shares of the insurance provider’s stock after buying an additional 6,070 shares during the quarter. AlphaQuest LLC’s holdings in Truist Financial were worth $470,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Argentarii LLC acquired a new stake in shares of Truist Financial in the 4th quarter worth about $1,427,000. OFI Invest Asset Management acquired a new stake in shares of Truist Financial in the 4th quarter worth about $24,911,000. Amundi increased its holdings in shares of Truist Financial by 6.5% in the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock worth $1,040,718,000 after acquiring an additional 1,450,323 shares during the period. Larson Financial Group LLC increased its holdings in shares of Truist Financial by 24.1% in the 4th quarter. Larson Financial Group LLC now owns 1,841 shares of the insurance provider’s stock worth $80,000 after acquiring an additional 358 shares during the period. Finally, AMF Tjanstepension AB increased its holdings in shares of Truist Financial by 478.5% in the 4th quarter. AMF Tjanstepension AB now owns 433,911 shares of the insurance provider’s stock worth $18,823,000 after acquiring an additional 358,901 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Stephens increased their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Baird R W raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, January 7th. Finally, Compass Point raised their target price on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Nine 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $51.16.

Truist Financial Trading Down 0.3 %

NYSE:TFC opened at $39.80 on Thursday. 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 Co. has a 1-year low of $34.51 and a 1-year high of $49.06. The firm has a market capitalization of $51.95 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The stock has a fifty day simple moving average of $45.53 and a 200 day simple moving average of $44.62.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm 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. Sell-side analysts forecast that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.23%. The ex-dividend date of this dividend was Friday, February 14th. 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.