Sei Investments Co. Boosts Position in Truist Financial Co. (NYSE:TFC)

Sei Investments Co. boosted its position in Truist Financial Co. (NYSE:TFCFree Report) by 2.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,317,560 shares of the insurance provider’s stock after purchasing an additional 37,410 shares during the quarter. Sei Investments Co.’s holdings in Truist Financial were worth $37,695,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TFC. State Street Corp increased its stake in Truist Financial by 1.8% in the 2nd quarter. State Street Corp now owns 59,824,259 shares of the insurance provider’s stock worth $1,815,666,000 after purchasing an additional 1,056,703 shares during the period. Geode Capital Management LLC boosted its position in Truist Financial by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 24,458,354 shares of the insurance provider’s stock valued at $740,544,000 after buying an additional 526,889 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in Truist Financial by 12,034.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock worth $881,700,000 after acquiring an additional 20,321,500 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Truist Financial by 3.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 17,771,573 shares of the insurance provider’s stock valued at $523,570,000 after purchasing an additional 575,930 shares during the period. Finally, Morgan Stanley raised its position in Truist Financial by 32.6% during the 4th quarter. Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock valued at $667,443,000 after purchasing an additional 3,813,439 shares during the last quarter. 71.11% of the stock is owned by institutional investors.

Truist Financial Stock Down 0.9 %

Shares of TFC opened at $36.92 on Friday. The company has a market cap of $49.27 billion, a PE ratio of -34.19, a P/E/G ratio of 1.59 and a beta of 1.07. Truist Financial Co. has a 52-week low of $25.56 and a 52-week high of $44.36. The business has a fifty day moving average of $36.49 and a 200 day moving average of $32.70. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74.

Truist Financial (NYSE:TFCGet Free Report) last released its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.13. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the company posted $1.30 earnings per share. On average, sell-side analysts expect that Truist Financial Co. will post 3.35 EPS for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.63%. The ex-dividend date was Thursday, February 8th. Truist Financial’s payout ratio is -192.59%.

Analysts Set New Price Targets

Several research analysts have issued reports on TFC shares. Royal Bank of Canada lifted their target price on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Odeon Capital Group raised Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 price target on the stock in a report on Thursday, December 14th. Bank of America raised Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Thursday, January 4th. Barclays upped their target price on shares of Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Evercore ISI increased their target price on Truist Financial from $31.00 to $33.00 and gave the company an “in-line” rating in a report on Monday, November 20th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $39.87.

Read Our Latest Stock Report on Truist Financial

Truist Financial Company 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.

Further Reading

Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Co. (NYSE:TFCFree Report).

Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

Receive News & Ratings for Truist Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Truist Financial and related companies with MarketBeat.com's FREE daily email newsletter.