Ossiam Buys 80,171 Shares of Truist Financial Co. (NYSE:TFC)

Ossiam lifted its stake in Truist Financial Co. (NYSE:TFC) by 179.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 124,962 shares of the insurance provider’s stock after acquiring an additional 80,171 shares during the quarter. Ossiam’s holdings in Truist Financial were worth $5,421,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Capital International Investors boosted its holdings in shares of Truist Financial by 26.0% in the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock valued at $3,930,983,000 after buying an additional 18,712,246 shares during the last quarter. Norges Bank bought a new position in shares of Truist Financial in the 4th quarter valued at about $402,828,000. FMR LLC increased its stake in shares of Truist Financial by 109.1% during the 4th quarter. FMR LLC now owns 10,460,159 shares of the insurance provider’s stock worth $453,762,000 after purchasing an additional 5,457,053 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Truist Financial in the 4th quarter valued at about $198,051,000. Finally, Marshall Wace LLP lifted its stake in Truist Financial by 92.8% in the 4th quarter. Marshall Wace LLP now owns 3,639,216 shares of the insurance provider’s stock valued at $157,869,000 after purchasing an additional 1,752,001 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on TFC shares. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $48.00 to $52.00 in a research note on Wednesday, March 5th. Keefe, Bruyette & Woods increased their price target on Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Sunday. Wells Fargo & Company dropped their price objective on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Finally, HSBC upgraded shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, January 7th. Nine equities research 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 has an average rating of “Moderate Buy” and a consensus target price of $50.22.

Truist Financial Stock Down 0.3 %

TFC stock opened at $35.88 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. Truist Financial Co. has a 52 week low of $33.56 and a 52 week high of $49.06. The company has a market cap of $46.83 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. The business has a 50-day simple moving average of $41.21 and a 200 day simple moving average of $43.79.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.87. The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same quarter last year, the business posted $0.90 EPS. Sell-side analysts anticipate that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 5.80%. Truist Financial’s dividend payout ratio is currently 61.36%.

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.