Sound View Wealth Advisors Group LLC Has $1.22 Million Stock Position in Truist Financial Co. (NYSE:TFC)

Sound View Wealth Advisors Group LLC increased its holdings in Truist Financial Co. (NYSE:TFC) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,126 shares of the insurance provider’s stock after acquiring an additional 901 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Truist Financial were worth $1,220,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. State Street Corp lifted its stake in Truist Financial by 4.6% in the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock worth $2,645,964,000 after acquiring an additional 2,720,223 shares in the last quarter. Geode Capital Management LLC lifted its stake in Truist Financial by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock worth $1,169,350,000 after acquiring an additional 456,412 shares in the last quarter. Amundi lifted its stake in Truist Financial by 6.5% in the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock worth $1,040,718,000 after acquiring an additional 1,450,323 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Truist Financial by 3.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,431,037 shares of the insurance provider’s stock worth $403,365,000 after purchasing an additional 288,306 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Truist Financial by 8.5% during the 4th quarter. Bank of New York Mellon Corp now owns 8,484,992 shares of the insurance provider’s stock worth $368,079,000 after purchasing an additional 662,179 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TFC. Keefe, Bruyette & Woods raised their price target on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Piper Sandler raised their price target on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Baird R W raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Wells Fargo & Company raised their price target on Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.16.

Truist Financial Stock Performance

TFC opened at $42.25 on Monday. The firm has a market capitalization of $55.15 billion, a P/E ratio of 12.69, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The stock’s 50 day moving average price is $45.73 and its two-hundred day moving average price is $44.69. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 12-month low of $34.51 and a 12-month high of $49.06.

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

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s payout ratio is presently 62.46%.

About Truist Financial

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.