Vanguard Group Inc. Sells 100,669 Shares of Truist Financial Co. (NYSE:TFC)

Vanguard Group Inc. reduced its position in shares of Truist Financial Co. (NYSE:TFC) by 0.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 119,129,225 shares of the insurance provider’s stock after selling 100,669 shares during the quarter. Vanguard Group Inc. owned approximately 0.09% of Truist Financial worth $5,167,826,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PBMares Wealth Management LLC raised its holdings in Truist Financial by 0.8% during the 4th quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock valued at $1,270,000 after buying an additional 224 shares during the last quarter. Koshinski Asset Management Inc. raised its holdings in Truist Financial by 2.1% during the 4th quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock valued at $470,000 after buying an additional 225 shares during the last quarter. Aaron Wealth Advisors LLC raised its holdings in Truist Financial by 3.0% during the 4th quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock valued at $335,000 after buying an additional 227 shares during the last quarter. FWG Holdings LLC raised its holdings in Truist Financial by 4.3% during the 4th quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock valued at $267,000 after buying an additional 234 shares during the last quarter. Finally, Ignite Planners LLC raised its holdings in Truist Financial by 1.4% during the 4th quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock valued at $772,000 after buying an additional 246 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TFC has been the subject of several research reports. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, January 17th. Stephens upped their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Keefe, Bruyette & Woods upped their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Finally, Raymond James upped their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.16.

Truist Financial Stock Performance

Shares of TFC stock opened at $41.41 on Monday. Truist Financial Co. has a one year low of $35.09 and a one year high of $49.06. The company’s 50-day moving average is $45.12 and its 200 day moving average is $44.46. The company has a market capitalization of $54.05 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the firm posted $0.81 EPS. Truist Financial’s revenue for the quarter was up 3.4% on a year-over-year basis. Sell-side analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.02%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

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.