Loomis Sayles & Co. L P Lowers Stock Position in Truist Financial Co. (NYSE:TFC)

Loomis Sayles & Co. L P trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC) by 11.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,973 shares of the insurance provider’s stock after selling 1,974 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Truist Financial were worth $650,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. AssuredPartners Investment Advisors LLC purchased a new position in Truist Financial in the fourth quarter valued at about $1,206,000. NEOS Investment Management LLC lifted its stake in Truist Financial by 31.7% in the fourth quarter. NEOS Investment Management LLC now owns 82,371 shares of the insurance provider’s stock valued at $3,573,000 after purchasing an additional 19,811 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Truist Financial by 7.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,073,644 shares of the insurance provider’s stock valued at $91,448,000 after purchasing an additional 140,585 shares during the period. Korea Investment CORP increased its position in Truist Financial by 138.5% in the fourth quarter. Korea Investment CORP now owns 578,432 shares of the insurance provider’s stock worth $25,092,000 after buying an additional 335,912 shares during the last quarter. Finally, Ausdal Financial Partners Inc. bought a new stake in shares of Truist Financial in the fourth quarter valued at $212,000. 71.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TFC has been the subject of several recent research reports. Compass Point lifted their price objective on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th. Keefe, Bruyette & Woods lifted their price objective on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Wells Fargo & Company dropped their target price on Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Citigroup reduced 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. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $50.68.

Truist Financial Trading Down 2.3 %

NYSE TFC opened at $40.46 on Friday. The stock’s 50-day simple moving average is $44.78 and its two-hundred day simple moving average is $44.42. Truist Financial Co. has a twelve month low of $35.09 and a twelve month 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. The company has a market capitalization of $52.81 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 1.63 and a beta of 1.08.

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

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date was Friday, February 14th. Truist Financial’s payout ratio 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.