MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 21,724 Shares of Truist Financial Co. (NYSE:TFC)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its position in shares of Truist Financial Co. (NYSE:TFC) by 11.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,033 shares of the insurance provider’s stock after selling 21,724 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Truist Financial were worth $7,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hopwood Financial Services Inc. bought a new position in shares of Truist Financial during the 4th quarter valued at $26,000. Navigoe LLC bought a new position in shares of Truist Financial during the 4th quarter valued at $26,000. Curio Wealth LLC bought a new position in shares of Truist Financial during the 4th quarter valued at $45,000. Brown Lisle Cummings Inc. bought a new position in Truist Financial in the 4th quarter worth $55,000. Finally, TCTC Holdings LLC raised its holdings in Truist Financial by 28.1% in the 4th quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider’s stock worth $57,000 after purchasing an additional 287 shares during the period. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Up 0.6%

Shares of Truist Financial stock opened at $41.41 on Friday. The firm has a market cap of $54.23 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.63 and a beta of 0.83. The business has a 50-day moving average price of $38.82 and a 200-day moving average price of $43.23. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a twelve month low of $33.56 and a twelve month high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter last year, the business posted $0.90 earnings per share. Equities research analysts anticipate that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 9th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.02%. Truist Financial’s payout ratio is currently 61.36%.

Analysts Set New Price Targets

A number of equities analysts recently commented on TFC shares. Citigroup decreased their target price on Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Baird R W raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. TD Cowen started coverage on Truist Financial in a report on Thursday. They issued a “hold” rating and a $44.00 target price on the stock. Raymond James cut Truist Financial from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 2nd. Finally, Argus set a $43.00 target price on Truist Financial in a report on Monday, April 21st. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.83.

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.