Capital International Investors Acquires 715,433 Shares of Truist Financial Corporation $TFC

Capital International Investors raised its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 0.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 108,358,164 shares of the insurance provider’s stock after acquiring an additional 715,433 shares during the quarter. Capital International Investors owned approximately 0.08% of Truist Financial worth $5,332,835,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. 3Chopt Investment Partners LLC grew its stake in shares of Truist Financial by 1.3% during the 4th quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock worth $724,000 after acquiring an additional 193 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Truist Financial by 2.4% during the 4th quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock worth $404,000 after acquiring an additional 194 shares in the last quarter. AlphaCore Capital LLC grew its stake in shares of Truist Financial by 8.3% during the 4th quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock worth $128,000 after acquiring an additional 199 shares in the last quarter. CYBER HORNET ETFs LLC grew its stake in shares of Truist Financial by 5.5% during the 4th quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock worth $188,000 after acquiring an additional 199 shares in the last quarter. Finally, Alliance Wealth Advisors LLC grew its stake in shares of Truist Financial by 1.8% during the 4th quarter. Alliance Wealth Advisors LLC now owns 11,298 shares of the insurance provider’s stock worth $556,000 after acquiring an additional 205 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Up 0.1%

Shares of Truist Financial stock opened at $49.24 on Friday. The business has a fifty day simple moving average of $48.63 and a two-hundred day simple moving average of $48.97. Truist Financial Corporation has a 1 year low of $38.83 and a 1 year high of $56.19. The company has a market capitalization of $61.35 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 0.84 and a beta of 0.89. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.87 EPS. Research analysts forecast that Truist Financial Corporation will post 4.52 EPS for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were given a dividend of $0.52 per share. The ex-dividend date was Friday, May 8th. This represents a $2.08 annualized dividend and a yield of 4.2%. Truist Financial’s dividend payout ratio (DPR) is presently 51.61%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Jefferies Financial Group reissued a “mixed” rating and issued a $45.00 price objective on shares of Truist Financial in a report on Friday, April 17th. Royal Bank Of Canada increased their price objective on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Friday, May 1st. Morgan Stanley cut their price objective on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, April 20th. Finally, JPMorgan Chase & Co. cut their price objective on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.59.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.