Securian Asset Management Inc. Sells 27,486 Shares of Truist Financial Corporation $TFC

Securian Asset Management Inc. decreased its position in Truist Financial Corporation (NYSE:TFC) by 44.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,785 shares of the insurance provider’s stock after selling 27,486 shares during the quarter. Securian Asset Management Inc.’s holdings in Truist Financial were worth $1,712,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Truist Financial by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 119,740,969 shares of the insurance provider’s stock valued at $5,892,453,000 after buying an additional 701,049 shares in the last quarter. Capital International Investors lifted its holdings in Truist Financial by 0.3% in the 3rd quarter. Capital International Investors now owns 107,642,731 shares of the insurance provider’s stock worth $4,921,717,000 after purchasing an additional 346,423 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Truist Financial by 8.4% in the 3rd quarter. Federated Hermes Inc. now owns 10,445,658 shares of the insurance provider’s stock worth $477,575,000 after purchasing an additional 813,177 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Truist Financial by 13,511.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider’s stock worth $474,886,000 after purchasing an additional 10,310,523 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Truist Financial by 2.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 8,492,845 shares of the insurance provider’s stock worth $388,300,000 after purchasing an additional 168,464 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TFC shares. Morgan Stanley reduced their target price on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, April 20th. TD Cowen boosted their target price on Truist Financial from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 target price for the company. in a report on Friday, May 1st. JPMorgan Chase & Co. reduced their target price on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Finally, Royal Bank Of Canada boosted their target price on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $55.59.

Truist Financial Stock Down 2.3%

Shares of TFC stock opened at $47.96 on Tuesday. Truist Financial Corporation has a 12 month low of $38.27 and a 12 month high of $56.19. The firm has a market cap of $59.75 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 0.84 and a beta of 0.92. The stock has a 50 day moving average of $47.96 and a 200-day moving average of $48.54. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same period in the previous year, the company earned $0.87 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities analysts predict that Truist Financial Corporation will post 4.52 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. Truist Financial’s payout ratio is 51.61%.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.