NEOS Investment Management LLC Grows Position in Truist Financial Co. (NYSE:TFC)

NEOS Investment Management LLC grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 31.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 82,371 shares of the insurance provider’s stock after purchasing an additional 19,811 shares during the period. NEOS Investment Management LLC’s holdings in Truist Financial were worth $3,573,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Raymond James Financial Inc. purchased a new stake in Truist Financial during the fourth quarter worth $198,051,000. State Street Corp raised its stake in shares of Truist Financial by 4.6% during the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after buying an additional 2,720,223 shares during the last quarter. Amundi boosted its position in shares of Truist Financial by 6.5% in the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock worth $1,040,718,000 after buying an additional 1,450,323 shares in the last quarter. KBC Group NV grew its stake in Truist Financial by 96.9% in the 4th quarter. KBC Group NV now owns 2,031,893 shares of the insurance provider’s stock valued at $88,144,000 after acquiring an additional 999,763 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in Truist Financial by 26.1% during the 3rd quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock valued at $166,892,000 after acquiring an additional 807,648 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TFC. Piper Sandler increased their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, January 7th. Citigroup dropped their price target on Truist Financial from $51.00 to $44.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Morgan Stanley upped their price objective on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Finally, Raymond James lifted 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. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and an average price target of $50.68.

Truist Financial Trading Down 2.3 %

TFC stock opened at $40.46 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market cap of $52.81 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 1.63 and a beta of 1.08. The business has a fifty day simple moving average of $44.78 and a 200-day simple moving average of $44.40. Truist Financial Co. has a 52 week low of $35.09 and a 52 week high of $49.06.

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

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.14%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Truist Financial Company 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.