Truist Financial Corporation (NYSE:TFC) Shares Purchased by Stonegate Investment Group LLC

Stonegate Investment Group LLC boosted its position in Truist Financial Corporation (NYSE:TFC) by 49.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,410 shares of the insurance provider’s stock after purchasing an additional 3,133 shares during the quarter. Stonegate Investment Group LLC’s holdings in Truist Financial were worth $387,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors raised its stake in Truist Financial by 26.0% in 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 during the last quarter. Geode Capital Management LLC raised its stake in Truist Financial by 1.9% in 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 during the last quarter. Amundi raised its stake in Truist Financial by 6.5% in 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 during the last quarter. Northern Trust Corp increased its stake in shares of 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 acquiring an additional 2,452,239 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of 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 worth $465,827,000 after acquiring an additional 1,307,252 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Up 1.1%

TFC opened at $40.25 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06. The firm has a 50 day moving average price of $39.09 and a 200 day moving average price of $42.12. The company has a market cap of $52.71 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.49 and a beta of 0.84.

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, meeting the consensus estimate of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. The company 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 company earned $0.90 earnings per share. Sell-side analysts expect that Truist Financial Corporation 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. Shareholders of record on Friday, May 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.17%. The ex-dividend date was Friday, May 9th. Truist Financial’s dividend payout ratio (DPR) is 61.36%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TFC shares. JPMorgan Chase & Co. cut their price objective on shares of Truist Financial from $48.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Wells Fargo & Company cut their price objective on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. TD Cowen started coverage on shares of Truist Financial in a report on Thursday, May 15th. They set a “hold” rating and a $44.00 price objective on the stock. Stephens cut their price objective on shares of Truist Financial from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Finally, Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $47.83.

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.