Ellevest Inc. Reduces Stock Position in Truist Financial Co. (NYSE:TFC)

Ellevest Inc. trimmed its position in shares of Truist Financial Co. (NYSE:TFC) by 12.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,746 shares of the insurance provider’s stock after selling 1,225 shares during the quarter. Ellevest Inc.’s holdings in Truist Financial were worth $379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of TFC. Comerica Bank grew its position in shares of Truist Financial by 3.6% during the 4th quarter. Comerica Bank now owns 449,484 shares of the insurance provider’s stock valued at $19,499,000 after acquiring an additional 15,499 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in Truist Financial by 48.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock worth $129,000 after buying an additional 971 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Truist Financial by 81.7% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,108,466 shares of the insurance provider’s stock valued at $48,085,000 after acquiring an additional 498,531 shares during the period. Principal Financial Group Inc. increased its holdings in Truist Financial by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after acquiring an additional 50,637 shares in the last quarter. Finally, Country Club Bank raised its stake in Truist Financial by 719.8% during the 4th quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock worth $1,973,000 after acquiring an additional 39,949 shares during the period. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

NYSE TFC opened at $38.88 on Friday. The company has a market cap of $50.91 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.63 and a beta of 0.83. The business’s 50 day moving average price is $38.86 and its 200-day moving average price is $43.30. Truist Financial Co. has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. 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 released its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter last year, the business earned $0.90 EPS. Sell-side analysts predict that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Friday, May 9th will be issued a $0.52 dividend. The ex-dividend date is Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 5.35%. Truist Financial’s payout ratio is 61.36%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Piper Sandler reduced their price objective on shares of Truist Financial from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a report on Wednesday. Baird R W raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Argus set a $43.00 price target on Truist Financial in a research note on Monday, April 21st. Finally, Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $48.00 to $52.00 in a report on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $48.06.

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.