Desjardins Global Asset Management Inc. Increases Holdings in Truist Financial Co. (NYSE:TFC)

Desjardins Global Asset Management Inc. lifted its position in Truist Financial Co. (NYSE:TFC) by 14.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,883 shares of the insurance provider’s stock after purchasing an additional 859 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Truist Financial were worth $254,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Truist Financial by 0.3% during the third quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock worth $3,355,141,000 after buying an additional 365,871 shares during the period. Geode Capital Management LLC lifted its holdings in Truist Financial by 1.4% during the first quarter. Geode Capital Management LLC now owns 23,931,465 shares of the insurance provider’s stock worth $814,557,000 after buying an additional 332,642 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in Truist Financial by 12,034.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock worth $881,700,000 after buying an additional 20,321,500 shares during the period. Morgan Stanley lifted its holdings in Truist Financial by 32.6% during the fourth quarter. Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock worth $667,443,000 after buying an additional 3,813,439 shares during the period. Finally, Royal Bank of Canada lifted its holdings in Truist Financial by 5.0% during the third quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock worth $440,162,000 after buying an additional 732,801 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the transaction, the director now owns 16,132 shares in the company, valued at approximately $604,627.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

Truist Financial Stock Up 0.1 %

NYSE TFC opened at $35.71 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. The stock’s fifty day moving average price is $36.62 and its 200 day moving average price is $34.37. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $39.29.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.13. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same quarter last year, the business posted $1.30 EPS. As a group, analysts anticipate that Truist Financial Co. will post 3.33 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.82%. Truist Financial’s payout ratio is currently -192.59%.

Analysts Set New Price Targets

A number of research firms have weighed in on TFC. Morgan Stanley upped their target price on Truist Financial from $38.00 to $43.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. UBS Group upped their target price on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Jefferies Financial Group upped their target price on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Keefe, Bruyette & Woods upped their price target on Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Finally, Piper Sandler upped their price target on Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Truist Financial currently has an average rating of “Hold” and a consensus price target of $41.47.

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.