Tocqueville Asset Management L.P. Has $440,000 Stock Holdings in Truist Financial Co. (NYSE:TFC)

Tocqueville Asset Management L.P. lessened its holdings in shares of Truist Financial Co. (NYSE:TFC) by 5.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,147 shares of the insurance provider’s stock after selling 550 shares during the period. Tocqueville Asset Management L.P.’s holdings in Truist Financial were worth $440,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its stake in Truist Financial by 4.6% in the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after purchasing an additional 2,720,223 shares during the period. Geode Capital Management LLC increased its holdings in shares of Truist Financial by 1.7% during the third quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock worth $1,169,350,000 after purchasing an additional 456,412 shares during the period. Amundi increased its stake in Truist Financial by 6.5% in the fourth quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock valued at $1,040,718,000 after acquiring an additional 1,450,323 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Truist Financial by 3.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,431,037 shares of the insurance provider’s stock valued at $403,365,000 after acquiring an additional 288,306 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Truist Financial by 8.5% during the fourth quarter. Bank of New York Mellon Corp now owns 8,484,992 shares of the insurance provider’s stock worth $368,079,000 after buying an additional 662,179 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

TFC stock opened at $41.29 on Thursday. Truist Financial Co. has a one year low of $35.09 and a one year high of $49.06. The company’s fifty day moving average price is $45.20 and its 200-day moving average price is $44.50. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $53.90 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

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

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

Analyst Ratings Changes

A number of equities analysts have recently commented on TFC shares. Raymond James lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Piper Sandler lifted their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Morgan Stanley boosted their target price on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.16.

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.