Great Lakes Advisors LLC Reduces Stake in Truist Financial Co. (NYSE:TFC)

Great Lakes Advisors LLC reduced its stake in Truist Financial Co. (NYSE:TFC) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 334,813 shares of the insurance provider’s stock after selling 2,681 shares during the quarter. Great Lakes Advisors LLC’s holdings in Truist Financial were worth $14,524,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TFC. Tradewinds LLC. raised its position in shares of Truist Financial by 0.5% during the 3rd quarter. Tradewinds LLC. now owns 44,513 shares of the insurance provider’s stock worth $1,904,000 after acquiring an additional 222 shares in the last quarter. PBMares Wealth Management LLC raised its position in shares of Truist Financial by 0.8% during the 4th quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock worth $1,270,000 after acquiring an additional 224 shares in the last quarter. Koshinski Asset Management Inc. grew its stake 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 worth $470,000 after buying an additional 225 shares during the last quarter. Aaron Wealth Advisors LLC grew its stake 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 worth $335,000 after buying an additional 227 shares during the last quarter. Finally, FWG Holdings LLC grew its stake in Truist Financial by 4.3% during the 4th quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock worth $267,000 after buying an additional 234 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TFC. Piper Sandler raised their price target on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Raymond James lifted their target price on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Wells Fargo & Company lifted their target price on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Morgan Stanley lifted their target price on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Nine equities research 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.16.

Truist Financial Stock Performance

Shares of TFC stock opened at $39.80 on Thursday. The stock has a fifty day moving average price of $45.53 and a 200 day moving average price of $44.62. The stock has a market cap of $51.95 billion, a PE ratio of 11.95, a P/E/G ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 1 year low of $34.51 and a 1 year 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 issued its quarterly earnings data 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 firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. Truist Financial’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.81 earnings per share. Sell-side analysts forecast that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 5.23%. Truist Financial’s dividend payout ratio is presently 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.