BI Asset Management Fondsmaeglerselskab A S Reduces Holdings in Truist Financial Co. (NYSE:TFC)
Other major investors have also recently changed their positions in the company. Federated Hermes Inc. increased its stake in Truist Financial by 125.0% in the second quarter. Federated Hermes Inc. now owns 4,964,809 shares of the insurance provider’s stock valued at $235,480,000 after purchasing an additional 2,758,668 shares last quarter. Capital World Investors increased its holdings of shares in Truist Financial by 585.1% in the first quarter. Capital World Investors now owns 2,712,800 shares of the insurance provider worth $153,816,000 after purchasing an additional 2,316,800 shares during the period. Dodge & Cox increased its stake in Truist Financial by 12.4% in the second quarter. Dodge & Cox now owns 19,105,325 shares of the insurance provider worth $906,166,000 after purchasing an additional 2,110,333 shares last quarter. Assenagon Asset Management SA increased its stake in Truist Financial by 12,790.7% in the third quarter. Assenagon Asset Management SA now owns 1,959,251 shares of the insurance provider, valued at $85,306,000, after purchasing an additional 1,944,052 shares last quarter. Finally, the Bank of Nova Scotia increased its stake in Truist Financial by 1,090.0% during the second quarter. The Bank of Nova Scotia now owns 2,062,251 shares of the insurance provider worth $97,812,000 after purchasing an additional 1,888,956 shares last quarter. 72.49% of the shares are currently owned by hedge funds and other institutional investors.
Truist Financial Trading up 0.5%
Shares of NYSE:TFC rose $0.23 on Friday midday to hit $49.09. The company’s shares had a trading volume of 128,964 shares compared to an average volume of 7,269,992. The company has a market cap of $65.13 billion, a price-to-earnings ratio of 11.03, a price-to-earnings-to-growth ratio of 1.26 and a beta of 1.08. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt to equity ratio of 0.80. Truist Financial Co. has a 1-year low of $40.01 and a 1-year high of $66.10. The company has a 50-day moving average price of $44.77 and a 200-day moving average price of $46.00.
Announcing a financial dividend from Truist
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 1st. Stockholders of record on Friday, February 10 will receive a dividend of $0.52 per share. That equates to an annual dividend of $2.08 and a yield of 4.24%. The ex-dividend date is Thursday February 9th. Truist Financial’s dividend payout ratio (DPR) is currently 46.95%.
Wall Street analysts forecast growth
A number of research companies have issued reports on TFC. Compass Point lowered its target price on Truist Financial to $45.00 in a research report on Thursday, October 20. JPMorgan Chase & Co. lowered its target price on Truist Financial from $48.50 to $47.50 in a research note on Wednesday, November 2nd. Barclays lowered its target price on Truist Financial to $57.00 from $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 19. The Royal Bank of Canada lowered its target price on Truist Financial to $60.00 from $70.00 and gave the stock a “Outperform” rating in a research note on Wednesday, October. Finally, Wells Fargo & Company lowered its target price on Truist Financial to $57.00 in a report on Wednesday, December 14th. One equities research analyst has rated the stock with a sell rating, eight with a hold rating and six with a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $52.59.
About Truist Financial
(received rating)
Truist Financial Corporation, a holding 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. Deposit products include non-interest checks, interest-bearing checks, savings and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.
Selected items
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