Vanguard Group Inc. Sells 100,669 Shares of Truist Financial Co. (NYSE:TFC)

Vanguard Group Inc. decreased its stake in Truist Financial Co. (NYSE:TFC) by 0.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 119,129,225 shares of the insurance provider’s stock after selling 100,669 shares during the period. Vanguard Group Inc. owned 8.97% of Truist Financial worth $5,167,826,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. LPL Financial LLC raised its position in Truist Financial by 6.8% in the fourth quarter. LPL Financial LLC now owns 3,876,113 shares of the insurance provider’s stock worth $168,146,000 after acquiring an additional 245,352 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Truist Financial in the fourth quarter worth about $19,677,000. AXQ Capital LP raised its position in Truist Financial by 45.0% in the fourth quarter. AXQ Capital LP now owns 10,077 shares of the insurance provider’s stock worth $437,000 after acquiring an additional 3,128 shares during the period. Marietta Investment Partners LLC raised its position in Truist Financial by 75.1% in the fourth quarter. Marietta Investment Partners LLC now owns 38,078 shares of the insurance provider’s stock worth $1,652,000 after acquiring an additional 16,333 shares during the period. Finally, Sei Investments Co. raised its position in Truist Financial by 2.6% in the fourth quarter. Sei Investments Co. now owns 989,419 shares of the insurance provider’s stock worth $42,920,000 after acquiring an additional 25,121 shares during the period. Institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. Baird R W upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Barclays lifted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Piper Sandler lifted their target price 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. Finally, Raymond James lifted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.16.

Truist Financial Price Performance

TFC stock opened at $41.41 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a one year low of $35.09 and a one year high of $49.06. The stock has a market cap of $54.05 billion, a PE ratio of 12.43, a P/E/G ratio of 1.63 and a beta of 1.08. The firm has a 50 day simple moving average of $45.12 and a two-hundred day simple moving average of $44.46.

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

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.02%. Truist Financial’s payout ratio is 62.46%.

Truist Financial 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.