B. Metzler seel. Sohn & Co. Holding AG Takes Position in Truist Financial Co. (NYSE:TFC)

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Truist Financial Co. (NYSE:TFC) during the third quarter, HoldingsChannel reports. The firm purchased 272,523 shares of the insurance provider’s stock, valued at approximately $11,655,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. CreativeOne Wealth LLC acquired a new position in shares of Truist Financial during the first quarter worth about $516,000. M&G Plc acquired a new position in Truist Financial during the second quarter worth about $2,804,000. Dimensional Fund Advisors LP grew its position in Truist Financial by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after buying an additional 299,196 shares during the period. Boston Common Asset Management LLC grew its position in Truist Financial by 66.4% during the third quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock worth $6,609,000 after buying an additional 61,683 shares during the period. Finally, PGGM Investments acquired a new position in Truist Financial during the first quarter worth about $611,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Performance

NYSE:TFC opened at $46.79 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. The company has a market cap of $62.11 billion, a P/E ratio of -32.72, a P/E/G ratio of 1.91 and a beta of 1.05. Truist Financial Co. has a fifty-two week low of $31.23 and a fifty-two week high of $47.57. The firm’s 50 day moving average is $43.27 and its two-hundred day moving average is $41.33.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. Analysts expect that Truist Financial Co. will post 3.7 EPS for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s dividend payout ratio is currently -145.45%.

Analyst Upgrades and Downgrades

TFC has been the topic of several recent analyst reports. Argus upped their target price on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley upped their target price on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. upped their target price on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Wells Fargo & Company increased their price target on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Citigroup lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and increased their price target for the company from $45.00 to $47.00 in a research report on Wednesday, July 24th. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $46.37.

Truist Financial 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.