M&R Capital Management Inc. lifted its position in Truist Financial Co. (NYSE: TFC – Get Rating) by 141.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 4,020 shares of the insurance provider’s stock after acquiring an additional 2,355 shares during the period. M&R Capital Management Inc.’s holdings in Truist Financial were worth $ 228,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its position in shares of Truist Financial by 2.7% in the 4th quarter. State Street Corp now owns 63,687,255 shares of the insurance provider’s stock worth $ 3,728,889,000 after acquiring an additional 1,687,751 shares in the last quarter. Bank of America Corp DE grew its position in shares of Truist Financial by 0.5% in the 4th quarter. Bank of America Corp DE now owns 47,279,159 shares of the insurance provider’s stock worth $ 2,768,196,000 after acquiring an additional 226,170 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Truist Financial by 1.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 25,188,265 shares of the insurance provider’s stock worth $ 1,474,773,000 after acquiring an additional 473,472 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Truist Financial by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 21,038,980 shares of the insurance provider’s stock worth $ 1,228,617,000 after acquiring an additional 544,801 shares in the last quarter. Finally, Dodge & Cox boosted its position in Truist Financial by 8.6% during the 4th quarter. Dodge & Cox now owns 16,347,518 shares of the insurance provider’s stock valued at $ 957,147,000 after purchasing an additional 1,293,701 shares during the period. Institutional investors own 72.79% of the company stock.
A number of research analysts recently issued reports on the company. StockNews.com lowered Truist Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, May 25th. Stephens reduced their price objective on Truist Financial from $ 74.00 to $ 64.00 and set an “overweight” rating for the company in a research report on Tuesday, June 7th. Wolfe Research reduced their price objective on Truist Financial from $ 57.00 to $ 41.00 and set an “underperform” rating for the company in a research report on Thursday, May 26th. Morgan Stanley reduced their price objective on Truist Financial from $ 72.00 to $ 63.00 and set an “equal weight” rating for the company in a research report on Monday, March 28th. Finally, The Goldman Sachs Group reduced their price target on Truist Financial from $ 68.00 to $ 57.00 and set a “buy” rating for the company in a research report on Tuesday, May 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $ 62.46.
TFC opened at $ 46.29 on Friday. Truist Financial Co. has a one year low of $ 44.75 and a one year high of $ 68.95. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.75 and a current ratio of 0.76. The stock’s fifty day moving average is $ 48.97 and its 200-day moving average is $ 56.52. The company has a market capitalization of $ 61.63 billion, a PE ratio of 10.33, a P / E / G ratio of 1.69 and a beta of 1.17.
Truist Financial (NYSE: TFC – Get Rating) last posted its quarterly earnings data on Tuesday, April 19th. The insurance provider reported $ 1.23 EPS for the quarter, topping analysts’ consensus estimates of $ 1.12 by $ 0.11. Truist Financial had a return on equity of 12.70% and a net margin of 27.89%. The company had revenue of $ 5.33 billion for the quarter, compared to the estimate consensus of $ 5.48 billion. During the same quarter in the previous year, the business earned $ 1.18 EPS. The company quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities research analysts forecast that Truist Financial Co. will post 4.96 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th were paid a $ 0.48 dividend. This represents a $ 1.92 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Thursday, May 12th. Truist Financial’s dividend payout ratio is presently 42.86%.
In other news, Director Steven C. Voorhees acquired 20,000 shares of the company stock in a transaction dated Wednesday, May 4th. The shares were bought at an average price of $ 49.82 per share, with a total value of $ 996,400.00. Following the purchase, the director now owns 60,873 shares of the company stock, valued at $ 3,032,692.86. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.31% of the stock is currently owned by insiders.
Truist Financial Company Profile: (Get Rating)
Truist Financial Corporation, a holding 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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