Truist Financial Co. (NYSE:TFC) Shares Bought by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC boosted its stake in Truist Financial Co. (NYSE:TFC) by 2.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,943 shares of the insurance provider’s stock after buying an additional 2,702 shares during the period. Orion Portfolio Solutions LLC’s holdings in Truist Financial were worth $4,336,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Fisher Asset Management LLC raised its holdings in Truist Financial by 4.5% during the third quarter. Fisher Asset Management LLC now owns 7,995 shares of the insurance provider’s stock worth $342,000 after purchasing an additional 345 shares in the last quarter. FMR LLC increased its position in shares of Truist Financial by 10.6% during the 3rd quarter. FMR LLC now owns 5,003,106 shares of the insurance provider’s stock valued at $213,983,000 after purchasing an additional 478,886 shares during the period. CreativeOne Wealth LLC raised its stake in shares of Truist Financial by 81.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 13,832 shares of the insurance provider’s stock worth $592,000 after buying an additional 6,190 shares in the last quarter. Fiduciary Trust Co lifted its holdings in shares of Truist Financial by 16.9% in the third quarter. Fiduciary Trust Co now owns 8,988 shares of the insurance provider’s stock valued at $384,000 after buying an additional 1,300 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in Truist Financial during the third quarter valued at about $26,087,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Down 2.3 %

Shares of Truist Financial stock opened at $40.46 on Monday. The firm has a market cap of $52.81 billion, a price-to-earnings ratio of 12.15, a P/E/G ratio of 1.63 and a beta of 1.08. The stock has a 50-day simple moving average of $44.78 and a 200-day simple moving average of $44.44. Truist Financial Co. has a 52-week low of $35.09 and a 52-week high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

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

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders 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 annualized dividend and a dividend yield of 5.14%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Analyst Upgrades and Downgrades

TFC has been the topic of several research reports. Compass Point boosted their price target on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Morgan Stanley increased their target price on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Stephens increased their price objective on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, January 7th. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.68.

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.