StoneX Group Inc. Increases Stock Position in Truist Financial Co. (NYSE:TFC)

StoneX Group Inc. increased its stake in shares of Truist Financial Co. (NYSE:TFC) by 23.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 80,403 shares of the insurance provider’s stock after purchasing an additional 15,138 shares during the period. StoneX Group Inc.’s holdings in Truist Financial were worth $3,488,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Truist Financial during the 4th quarter valued at approximately $402,828,000. Raymond James Financial Inc. purchased a new stake in shares of Truist Financial in the fourth quarter worth $198,051,000. State Street Corp raised its position in shares of Truist Financial by 4.6% during the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after purchasing an additional 2,720,223 shares during the period. Amundi boosted its holdings in 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 buying an additional 1,450,323 shares during the period. Finally, KBC Group NV increased its stake in Truist Financial by 96.9% in the 4th quarter. KBC Group NV now owns 2,031,893 shares of the insurance provider’s stock worth $88,144,000 after buying an additional 999,763 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TFC shares. Citigroup decreased their target price on Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Piper Sandler increased their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods raised their price target on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company reduced their price target on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.68.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $41.16 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $53.74 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The company has a 50-day simple moving average of $44.65 and a 200-day simple moving average of $44.43. Truist Financial Co. has a 12 month low of $35.09 and a 12 month high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. Truist Financial’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.81 earnings per share. On average, equities analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed 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. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 5.05%. Truist Financial’s dividend payout ratio is currently 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.