Sompo Asset Management Co. Ltd. Grows Stock Position in Truist Financial Co. (NYSE:TFC)

Sompo Asset Management Co. Ltd. grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 65.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 106,485 shares of the insurance provider’s stock after buying an additional 42,295 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Truist Financial were worth $4,619,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TFC. Bangor Savings Bank raised its position in Truist Financial by 92.5% in the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 272 shares during the period. Hopwood Financial Services Inc. bought a new stake in shares of Truist Financial in the 4th quarter valued at approximately $26,000. Curio Wealth LLC acquired a new position in shares of Truist Financial in the 4th quarter valued at about $45,000. City State Bank grew its holdings in shares of Truist Financial by 158.1% during the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 716 shares during the last quarter. Finally, Brown Lisle Cummings Inc. bought a new stake in Truist Financial in the fourth quarter valued at $55,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Trading Up 2.9 %

TFC stock opened at $36.34 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $47.44 billion, a price-to-earnings ratio of 10.91, a P/E/G ratio of 1.63 and a beta of 0.91. Truist Financial Co. has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The business has a fifty day moving average price of $40.79 and a 200 day moving average price of $43.71.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting analysts’ consensus estimates of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period last year, the company earned $0.90 earnings per share. Analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.72%. Truist Financial’s dividend payout ratio (DPR) is presently 61.36%.

Wall Street Analyst Weigh In

TFC has been the subject of several recent analyst reports. Baird R W raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Wells Fargo & Company decreased their target price on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, January 7th. Finally, Raymond James downgraded Truist Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 2nd. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.83.

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.