World Investment Advisors Grows Stock Holdings in Truist Financial Co. (NYSE:TFC)

World Investment Advisors lifted its position in Truist Financial Co. (NYSE:TFC) by 70.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,691 shares of the insurance provider’s stock after buying an additional 10,205 shares during the quarter. World Investment Advisors’ holdings in Truist Financial were worth $1,071,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Nicolet Advisory Services LLC lifted its position in shares of Truist Financial by 3.8% during the fourth quarter. Nicolet Advisory Services LLC now owns 18,138 shares of the insurance provider’s stock worth $776,000 after purchasing an additional 665 shares in the last quarter. Meeder Advisory Services Inc. lifted its holdings in Truist Financial by 1.0% during the 4th quarter. Meeder Advisory Services Inc. now owns 28,385 shares of the insurance provider’s stock worth $1,231,000 after buying an additional 288 shares in the last quarter. Headlands Technologies LLC boosted its position in Truist Financial by 163.5% in the 4th quarter. Headlands Technologies LLC now owns 14,099 shares of the insurance provider’s stock valued at $612,000 after buying an additional 8,748 shares during the period. Geode Capital Management LLC increased its position in shares of Truist Financial by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider’s stock worth $1,210,348,000 after acquiring an additional 534,740 shares during the period. Finally, StoneX Group Inc. raised its stake in shares of Truist Financial by 23.2% in the fourth quarter. StoneX Group Inc. now owns 80,403 shares of the insurance provider’s stock valued at $3,488,000 after acquiring an additional 15,138 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Down 6.0 %

TFC stock opened at $34.80 on Friday. The stock has a market capitalization of $45.43 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. The company has a fifty day moving average of $43.97 and a 200-day moving average of $44.32. 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 Co. has a one year low of $33.71 and a one year high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $5.11 billion for 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 for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.81 EPS. As a group, analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date was Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is currently 62.46%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Stephens boosted their target price on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. lowered their price target on shares of Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday. HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, January 7th. Finally, Barclays boosted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.42.

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.