TCW Group Inc. Buys 469 Shares of Truist Financial Co. (NYSE:TFC)

TCW Group Inc. raised its stake in Truist Financial Co. (NYSE:TFC) by 2.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 18,707 shares of the insurance provider’s stock after purchasing an additional 469 shares during the quarter. TCW Group Inc.’s holdings in Truist Financial were worth $812,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Truist Financial by 4.6% during the third quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after acquiring an additional 2,720,223 shares in the last quarter. KBC Group NV raised its holdings in shares of Truist Financial by 96.9% during the fourth quarter. KBC Group NV now owns 2,031,893 shares of the insurance provider’s stock valued at $88,144,000 after acquiring an additional 999,763 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Truist Financial by 26.1% during the third quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock valued at $166,892,000 after acquiring an additional 807,648 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Truist Financial by 21.0% during the third quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock valued at $155,288,000 after acquiring an additional 630,628 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Truist Financial during the third quarter valued at approximately $26,087,000. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the subject of a number of recent analyst reports. Stephens upped their target price on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Keefe, Bruyette & Woods upped their price target on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Wells Fargo & Company upped their price target on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Piper Sandler upped their price target on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, The Goldman Sachs Group upped their price target on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.79.

Truist Financial Trading Down 0.8 %

Truist Financial stock opened at $45.31 on Tuesday. Truist Financial Co. has a one year low of $34.26 and a one year high of $49.06. The business’s fifty day moving average is $45.61 and its 200 day moving average is $44.54. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $60.15 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the prior year, the company earned $0.81 earnings per share. Truist Financial’s revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts predict that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is currently 62.46%.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the transaction, the director now owns 11,246 shares of the company’s stock, valued at $519,565.20. This trade represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

About Truist Financial

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.