Truist Financial Co. (NYSE:TFC) Position Boosted by My Legacy Advisors LLC

My Legacy Advisors LLC increased its holdings in Truist Financial Co. (NYSE:TFC) by 15.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,485 shares of the insurance provider’s stock after buying an additional 2,124 shares during the quarter. My Legacy Advisors LLC’s holdings in Truist Financial were worth $637,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TFC. Capital International Investors boosted its stake in Truist Financial by 26.0% during the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock valued at $3,930,983,000 after purchasing an additional 18,712,246 shares in the last quarter. Geode Capital Management LLC boosted its stake in Truist Financial by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider’s stock valued at $1,210,348,000 after purchasing an additional 534,740 shares in the last quarter. Amundi boosted its stake in Truist Financial by 6.5% during the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock valued at $1,040,718,000 after purchasing an additional 1,450,323 shares in the last quarter. Northern Trust Corp boosted its stake in Truist Financial by 20.5% during the 4th quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider’s stock valued at $626,154,000 after purchasing an additional 2,452,239 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Truist Financial by 13.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,738,289 shares of the insurance provider’s stock valued at $465,827,000 after purchasing an additional 1,307,252 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Argus set a $43.00 price objective on Truist Financial in a research note on Monday, April 21st. Raymond James lowered Truist Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. Stephens reduced their price objective on Truist Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Wells Fargo & Company reduced their price objective on Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Finally, TD Cowen began coverage on Truist Financial in a report on Thursday, May 15th. They issued a “hold” rating and a $44.00 target price for the company. Nine equities research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.83.

Truist Financial Trading Up 0.8%

Truist Financial stock opened at $40.75 on Wednesday. Truist Financial Co. has a 52 week low of $33.56 and a 52 week high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $53.37 billion, a P/E ratio of 12.24, a PEG ratio of 1.63 and a beta of 0.84. The stock has a 50-day simple moving average of $38.48 and a 200 day simple moving average of $42.55.

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

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were paid a $0.52 dividend. The ex-dividend date was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.10%. Truist Financial’s dividend payout ratio (DPR) is 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.