Generali Asset Management SPA SGR Acquires Shares of 5,895 Truist Financial Co. (NYSE:TFC)

Generali Asset Management SPA SGR bought a new stake in Truist Financial Co. (NYSE:TFC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,895 shares of the insurance provider’s stock, valued at approximately $256,000.

A number of other institutional investors have also modified their holdings of the stock. Bangor Savings Bank grew its position in Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after buying an additional 272 shares during the last quarter. Hopwood Financial Services Inc. purchased a new stake in shares of Truist Financial in the fourth quarter valued at about $26,000. Curio Wealth LLC acquired a new position in shares of Truist Financial during the fourth quarter worth about $45,000. True Wealth Design LLC purchased a new position in Truist Financial during the third quarter worth about $51,000. Finally, City State Bank lifted its position in Truist Financial by 158.1% in the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 716 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

TFC has been the subject of a number of analyst reports. Baird R W raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Raymond James increased their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Citigroup boosted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Morgan Stanley increased their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Finally, Barclays boosted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. 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 stock. According to data from MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and an average target price of $51.16.

Truist Financial Stock Up 0.1 %

Shares of NYSE:TFC opened at $41.32 on Friday. The company has a market capitalization of $53.94 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.63 and a beta of 1.08. The stock’s fifty day simple moving average is $45.15 and its 200-day simple moving average is $44.47. Truist Financial Co. has a 52-week low of $35.09 and a 52-week high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.81 EPS. As a group, equities research analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

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 dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio is presently 62.46%.

Truist Financial 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.