Truist Financial Corporation $TFC Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lifted its holdings in Truist Financial Corporation (NYSE:TFC) by 19.9% in the fourth quarter, Holdings Channel reports. The firm owned 3,970,536 shares of the insurance provider’s stock after buying an additional 659,712 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Truist Financial were worth $195,390,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. 3Chopt Investment Partners LLC lifted its position in Truist Financial by 1.3% during the 4th quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock worth $724,000 after acquiring an additional 193 shares during the period. IFP Advisors Inc lifted its position in Truist Financial by 2.4% during the 4th quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock worth $404,000 after acquiring an additional 194 shares during the period. AlphaCore Capital LLC lifted its position in Truist Financial by 8.3% during the 4th quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock worth $128,000 after acquiring an additional 199 shares during the period. CYBER HORNET ETFs LLC lifted its position in Truist Financial by 5.5% during the 4th quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock worth $188,000 after acquiring an additional 199 shares during the period. Finally, Mindset Wealth Management LLC lifted its position in Truist Financial by 0.6% during the 4th quarter. Mindset Wealth Management LLC now owns 34,667 shares of the insurance provider’s stock worth $1,706,000 after acquiring an additional 201 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $51.63 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a twelve month low of $38.83 and a twelve month high of $56.19. The business has a 50-day moving average price of $49.10 and a 200 day moving average price of $49.18. The firm has a market cap of $64.33 billion, a PE ratio of 12.81, a P/E/G ratio of 0.88 and a beta of 0.89.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same quarter in the previous year, the business earned $0.87 EPS. Truist Financial’s revenue for the quarter was up 5.0% compared to the same quarter last year. Sell-side analysts predict that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Friday, May 8th. Truist Financial’s payout ratio is currently 51.61%.

Analyst Ratings Changes

A number of brokerages have commented on TFC. Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Wall Street Zen cut Truist Financial from a “hold” rating to a “sell” rating in a report on Saturday. Morgan Stanley decreased their price objective on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, April 20th. Robert W. Baird cut Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. decreased their price objective on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.59.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.