Ameriprise Financial Inc. Trims Holdings in Truist Financial Co. (NYSE:TFC)

Ameriprise Financial Inc. reduced its holdings in shares of Truist Financial Co. (NYSE:TFC) by 10.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,611,003 shares of the insurance provider’s stock after selling 178,349 shares during the period. Ameriprise Financial Inc. owned approximately 0.12% of Truist Financial worth $69,884,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Hopwood Financial Services Inc. acquired a new position in Truist Financial in the 4th quarter valued at $26,000. Navigoe LLC acquired a new position in shares of Truist Financial during the fourth quarter worth about $26,000. Curio Wealth LLC purchased a new position in Truist Financial during the fourth quarter worth about $45,000. City State Bank lifted its position in Truist Financial by 158.1% in the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 716 shares during the period. Finally, Brown Lisle Cummings Inc. acquired a new position in Truist Financial during the 4th quarter worth approximately $55,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TFC has been the topic of a number of analyst reports. Raymond James downgraded Truist Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. Citigroup lowered 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, March 24th. Barclays reduced their price objective on shares of Truist Financial from $51.00 to $47.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Stephens decreased their price target on Truist Financial from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.06.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $38.88 on Friday. The business has a fifty day simple moving average of $38.86 and a 200-day simple moving average of $43.30. Truist Financial Co. has a 52 week low of $33.56 and a 52 week high of $49.06. The company has a market cap of $50.91 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.63 and a beta of 0.83. 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 posted its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting analysts’ consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the prior year, the company posted $0.90 EPS. Equities research analysts forecast that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 9th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.35%. Truist Financial’s dividend payout ratio is presently 61.36%.

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.