Truist Financial Co. (NYSE:TFC) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lowered its stake in shares of Truist Financial Co. (NYSE:TFC) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,613 shares of the insurance provider’s stock after selling 410 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Truist Financial were worth $851,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Level Four Advisory Services LLC increased its stake in Truist Financial by 0.9% during the 4th quarter. Level Four Advisory Services LLC now owns 41,114 shares of the insurance provider’s stock valued at $1,784,000 after purchasing an additional 386 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Truist Financial by 2.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 99,943 shares of the insurance provider’s stock valued at $4,336,000 after buying an additional 2,702 shares during the last quarter. Pictet Asset Management Holding SA increased its position in shares of Truist Financial by 13.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 885,234 shares of the insurance provider’s stock valued at $38,401,000 after acquiring an additional 104,363 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in Truist Financial by 9.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 457,320 shares of the insurance provider’s stock worth $19,839,000 after acquiring an additional 38,604 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in Truist Financial during the 4th quarter worth about $4,215,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Down 2.3 %

Truist Financial stock opened at $40.46 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $52.81 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The business 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 12 month low of $35.09 and a 12 month high of $49.06.

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

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s dividend payout ratio is presently 62.46%.

Wall Street Analyst Weigh In

TFC has been the topic of a number of research reports. Barclays increased their price objective on Truist Financial from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Stephens increased their price target on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Hsbc Global Res upgraded shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Compass Point increased their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, January 7th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.