Northwestern Mutual Wealth Management Co. Boosts Position in Truist Financial Corporation $TFC

Northwestern Mutual Wealth Management Co. lifted its stake in shares of Truist Financial Corporation (NYSE:TFC) by 3.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,379,694 shares of the insurance provider’s stock after buying an additional 42,494 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Truist Financial were worth $67,895,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in Truist Financial by 148.5% in the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after purchasing an additional 14,093 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of Truist Financial by 39.5% in the 1st quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock valued at $4,575,000 after buying an additional 31,454 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Truist Financial in the 2nd quarter worth approximately $575,000. AXA S.A. lifted its position in Truist Financial by 23.1% during the second quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock valued at $1,126,000 after acquiring an additional 4,921 shares during the last quarter. Finally, Main Street Financial Solutions LLC boosted its stake in Truist Financial by 20.1% in the second quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock valued at $292,000 after acquiring an additional 1,134 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE TFC opened at $48.12 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $59.96 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 0.82 and a beta of 0.92. The firm’s 50 day simple moving average is $48.28 and its 200-day simple moving average is $48.86. Truist Financial Corporation has a 12 month low of $38.67 and a 12 month high of $56.19.

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

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is currently 51.61%.

Analysts Set New Price Targets

A number of equities research analysts have commented on TFC shares. JPMorgan Chase & Co. decreased their price target on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Jefferies Financial Group reiterated a “mixed” rating and issued a $45.00 target price on shares of Truist Financial in a research note on Friday, April 17th. Morgan Stanley cut their price target on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a research note on Monday, April 20th. Finally, Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target for the company. in a report on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.59.

Truist Financial Company Profile

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.