ProShare Advisors LLC Has $12.34 Million Stock Position in Truist Financial Co. (NYSE:TFC)

ProShare Advisors LLC lifted its holdings in Truist Financial Co. (NYSE:TFC) by 10.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 284,529 shares of the insurance provider’s stock after acquiring an additional 27,143 shares during the period. ProShare Advisors LLC’s holdings in Truist Financial were worth $12,343,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of TFC. PBMares Wealth Management LLC increased its holdings in shares of Truist Financial by 0.8% during the fourth quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock worth $1,270,000 after purchasing an additional 224 shares during the period. Koshinski Asset Management Inc. increased its stake in Truist Financial by 2.1% during the 4th quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock worth $470,000 after acquiring an additional 225 shares during the period. Aaron Wealth Advisors LLC raised its holdings in Truist Financial by 3.0% in the 4th quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock valued at $335,000 after acquiring an additional 227 shares in the last quarter. FWG Holdings LLC lifted its position in shares of Truist Financial by 4.3% during the 4th quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock valued at $267,000 after acquiring an additional 234 shares during the period. Finally, Avestar Capital LLC grew its holdings in shares of Truist Financial by 4.1% during the 4th quarter. Avestar Capital LLC now owns 6,299 shares of the insurance provider’s stock worth $273,000 after purchasing an additional 250 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Citigroup cut their price objective on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Argus set a $43.00 price target on shares of Truist Financial in a research report on Monday, April 21st. TD Cowen initiated coverage on shares of Truist Financial in a research note on Thursday. They issued a “hold” rating and a $44.00 price objective on the stock. Piper Sandler cut their target price on Truist Financial from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Finally, Raymond James lowered Truist Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.83.

Truist Financial Price Performance

TFC stock opened at $41.41 on Friday. The company has a market capitalization of $54.23 billion, a P/E ratio of 12.43, a PEG ratio of 1.63 and a beta of 0.83. Truist Financial Co. has a 52-week low of $33.56 and a 52-week high of $49.06. The company has a fifty day moving average price of $38.82 and a 200-day moving average price of $43.23. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the firm earned $0.90 earnings per share. As a group, equities analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 9th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend is Friday, May 9th. Truist Financial’s dividend payout ratio is currently 61.36%.

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.