Dimensional Fund Advisors LP Lowers Holdings in Truist Financial Co. (NYSE:TFC)

Dimensional Fund Advisors LP reduced its stake in Truist Financial Co. (NYSE:TFC) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,622,172 shares of the insurance provider’s stock after selling 642,466 shares during the period. Dimensional Fund Advisors LP owned approximately 0.57% of Truist Financial worth $330,661,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital International Investors grew its position in Truist Financial by 26.0% during the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock valued at $3,930,983,000 after purchasing an additional 18,712,246 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Truist Financial by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider’s stock worth $1,210,348,000 after buying an additional 534,740 shares in the last quarter. Amundi grew its holdings in shares of Truist Financial by 6.5% during the fourth quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock valued at $1,040,718,000 after buying an additional 1,450,323 shares during the last quarter. FMR LLC raised its holdings in Truist Financial by 109.1% in the 4th quarter. FMR LLC now owns 10,460,159 shares of the insurance provider’s stock worth $453,762,000 after acquiring an additional 5,457,053 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Truist Financial by 12.4% in the 4th quarter. Invesco Ltd. now owns 9,951,283 shares of the insurance provider’s stock valued at $431,687,000 after acquiring an additional 1,101,256 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $35.88 on Monday. The firm’s 50 day simple moving average is $41.21 and its two-hundred day simple moving average is $43.81. 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 company has a market capitalization of $46.83 billion, a P/E ratio of 10.77, a P/E/G ratio of 1.63 and a beta of 0.91. Truist Financial Co. has a 1-year low of $33.56 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the business posted $0.90 EPS. Research analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal 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. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 5.80%. Truist Financial’s payout ratio is 61.36%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TFC shares. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Baird R W raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Barclays raised their price target on shares of Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $48.00 to $52.00 in a report on Wednesday, March 5th. Finally, Morgan Stanley dropped their target price on shares of Truist Financial from $50.00 to $43.00 and set an “equal weight” rating on the stock in a report on Monday, April 7th. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $50.22.

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.