Level Four Advisory Services LLC Raises Stock Holdings in Truist Financial Co. (NYSE:TFC)

Level Four Advisory Services LLC grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,114 shares of the insurance provider’s stock after buying an additional 386 shares during the period. Level Four Advisory Services LLC’s holdings in Truist Financial were worth $1,784,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Orion Portfolio Solutions LLC boosted its position in shares of Truist Financial by 2.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 99,943 shares of the insurance provider’s stock worth $4,336,000 after purchasing an additional 2,702 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of Truist Financial by 13.4% during 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 buying an additional 104,363 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings 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 buying an additional 38,604 shares during the period. New Age Alpha Advisors LLC purchased a new stake in Truist Financial in the 4th quarter worth $4,215,000. Finally, Norges Bank bought a new stake in Truist Financial during the fourth quarter valued at about $402,828,000. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Down 2.3 %

Shares of TFC opened at $40.46 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The business has a fifty day moving average of $44.78 and a 200 day moving average of $44.42. The company has a market cap of $52.81 billion, a PE ratio of 12.15, a P/E/G ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a 52-week low of $35.09 and a 52-week high of $49.06.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm 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 business’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business earned $0.81 EPS. On average, sell-side analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 5.14%. Truist Financial’s dividend payout ratio is 62.46%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. HSBC upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Tuesday, January 7th. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th. Stephens upped their target price on shares of Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report 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 company an “outperform” rating in a report on Tuesday, January 21st. Finally, Morgan Stanley increased their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. 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 company’s stock. Based on data from MarketBeat, Truist Financial presently has a consensus 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.