BlueChip Wealth Advisors LLC purchased a new stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 105,057 shares of the insurance provider's stock, valued at approximately $3,879,000. Truist Financial accounts for approximately 2.7% of BlueChip Wealth Advisors LLC's holdings, making the stock its 10th biggest holding.
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Several other institutional investors have also recently made changes to their positions in TFC. Hennessy Advisors Inc. raised its position in Truist Financial by 40.0% in the fourth quarter. Hennessy Advisors Inc. now owns 28,000 shares of the insurance provider's stock valued at $1,034,000 after purchasing an additional 8,000 shares during the period. Yeomans Consulting Group Inc. acquired a new position in shares of Truist Financial in the fourth quarter worth $389,000. Muirfield Wealth Advisors LLC acquired a new position in shares of Truist Financial in the fourth quarter worth $209,000. ICA Group Wealth Management LLC acquired a new position in shares of Truist Financial in the fourth quarter worth $233,000. Finally, Wellington Management Group LLP grew its stake in shares of Truist Financial by 475.1% in the fourth quarter. Wellington Management Group LLP now owns 252,719 shares of the insurance provider's stock worth $9,330,000 after acquiring an additional 208,772 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have commented on TFC. Barclays began coverage on shares of Truist Financial in a research note on Thursday, May 16th. They issued an "equal weight" rating and a $43.00 price target for the company. Compass Point upgraded shares of Truist Financial from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $34.00 to $42.00 in a research note on Tuesday, April 23rd. HSBC boosted their target price on shares of Truist Financial from $40.00 to $41.00 and gave the stock a "hold" rating in a research note on Wednesday, May 8th. Piper Sandler boosted their target price on shares of Truist Financial from $38.00 to $41.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 14th. Finally, Stephens boosted their target price on shares of Truist Financial from $43.00 to $47.00 and gave the stock an "overweight" rating in a research note on Thursday, May 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $43.17.
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Get Our Latest Stock Analysis on Truist Financial
Truist Financial Price Performance
Truist Financial stock traded up $0.39 during mid-day trading on Monday, reaching $35.80. The company had a trading volume of 5,106,413 shares, compared to its average volume of 8,696,566. Truist Financial Co. has a 1 year low of $26.57 and a 1 year high of $40.51. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $47.90 billion, a P/E ratio of -27.12, a P/E/G ratio of 1.75 and a beta of 1.06. The stock's 50-day simple moving average is $37.82 and its 200-day simple moving average is $36.95.
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Truist Financial (NYSE:TFC - Get Free Report) last issued its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The company had revenue of $4.87 billion during the quarter, compared to analysts' expectations of $5.70 billion. During the same period last year, the company posted $1.09 earnings per share. The firm's quarterly revenue was down 8.8% compared to the same quarter last year. On average, equities analysts predict that Truist Financial Co. will post 3.36 EPS for the current year.
Truist Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 10th were issued a $0.52 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.81%. Truist Financial's dividend payout ratio (DPR) is presently -157.58%.
Truist Financial Profile
(Free Report)
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.
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