Norden Group LLC Acquires Shares of 4,876 Truist Financial Co. (NYSE:TFC)

Norden Group LLC bought a new position in Truist Financial Co. (NYSE:TFC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,876 shares of the insurance provider’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Gladstone Institutional Advisory LLC acquired a new position in Truist Financial during the 3rd quarter worth approximately $322,000. Farther Finance Advisors LLC boosted its stake in shares of Truist Financial by 74.4% in the third quarter. Farther Finance Advisors LLC now owns 16,543 shares of the insurance provider’s stock valued at $707,000 after buying an additional 7,055 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new position in Truist Financial during the third quarter worth $224,000. National Pension Service raised its position in Truist Financial by 14.5% in the third quarter. National Pension Service now owns 3,401,518 shares of the insurance provider’s stock worth $145,483,000 after acquiring an additional 431,741 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in Truist Financial by 4.3% in the third quarter. Asset Management One Co. Ltd. now owns 509,439 shares of the insurance provider’s stock valued at $21,789,000 after acquiring an additional 20,862 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

NYSE:TFC opened at $43.75 on Wednesday. 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 firm has a market cap of $57.10 billion, a PE ratio of 13.14, a P/E/G ratio of 1.63 and a beta of 1.08. The firm has a 50 day simple moving average of $45.81 and a 200-day simple moving average of $44.69. Truist Financial Co. has a 1-year low of $34.51 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the previous year, the firm posted $0.81 EPS. Truist Financial’s revenue was up 3.4% on a year-over-year basis. On average, equities analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TFC. Piper Sandler upped their price target on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Stephens increased their target price on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Wells Fargo & Company boosted 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. 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 report on Tuesday, November 26th. Finally, StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Company 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.