Securian Asset Management Inc. Reduces Position in Truist Financial Corporation (NYSE:TFC)

Securian Asset Management Inc. decreased its holdings in shares of Truist Financial Corporation (NYSE:TFCFree Report) by 2.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 69,707 shares of the insurance provider’s stock after selling 1,641 shares during the quarter. Securian Asset Management Inc.’s holdings in Truist Financial were worth $2,868,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TFC. Capital International Investors grew its holdings in shares of Truist Financial by 26.0% in the fourth 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 period. Norges Bank purchased a new stake in shares of Truist Financial in the fourth quarter valued at about $402,828,000. FMR LLC grew its holdings in shares of Truist Financial by 109.1% in the fourth quarter. FMR LLC now owns 10,460,159 shares of the insurance provider’s stock valued at $453,762,000 after purchasing an additional 5,457,053 shares during the period. Northern Trust Corp grew its holdings in shares of Truist Financial by 20.5% in the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider’s stock valued at $626,154,000 after purchasing an additional 2,452,239 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Truist Financial by 610.8% in the first quarter. Assenagon Asset Management S.A. now owns 2,661,895 shares of the insurance provider’s stock valued at $109,537,000 after purchasing an additional 2,287,410 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC opened at $45.67 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.55. The firm has a market cap of $59.81 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.69 and a beta of 0.85. The company’s 50 day simple moving average is $41.23 and its 200-day simple moving average is $42.01. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06.

Truist Financial (NYSE:TFCGet Free Report) last announced its 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. The business had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. During the same period last year, the firm posted $0.90 earnings per share. As a group, equities analysts predict that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.55%. Truist Financial’s dividend payout ratio (DPR) is 61.36%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TFC shares. Keefe, Bruyette & Woods lowered shares of Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price objective for the company. in a report on Wednesday, July 9th. Barclays lowered their target price on shares of Truist Financial from $51.00 to $47.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. Stephens lowered their target price on shares of Truist Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Morgan Stanley lowered their target price on shares of Truist Financial from $50.00 to $43.00 and set an “equal weight” rating for the company in a research note on Monday, April 7th. Finally, Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and increased their target price for the stock from $44.00 to $55.00 in a research note on Thursday, June 26th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.44.

Check Out Our Latest Stock Analysis on TFC

Truist Financial Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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