2,443 Shares in Truist Financial Co. (NYSE:TFC) Purchased by Curat Global LLC

Curat Global LLC acquired a new position in Truist Financial Co. (NYSE:TFC) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,443 shares of the insurance provider’s stock, valued at approximately $101,000.

Other large investors have also modified their holdings of the company. Capital International Investors increased its stake in Truist Financial by 26.0% during the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock valued at $3,930,983,000 after buying an additional 18,712,246 shares during the period. Norges Bank acquired a new position in Truist Financial during the 4th quarter valued at about $402,828,000. FMR LLC increased its stake in Truist Financial by 109.1% during the 4th quarter. FMR LLC now owns 10,460,159 shares of the insurance provider’s stock valued at $453,762,000 after buying an additional 5,457,053 shares during the period. Raymond James Financial Inc. acquired a new position in Truist Financial during the 4th quarter valued at about $198,051,000. Finally, Northern Trust Corp increased its stake in Truist Financial by 20.5% during the 4th quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider’s stock valued at $626,154,000 after buying an additional 2,452,239 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

Shares of TFC opened at $40.66 on Friday. Truist Financial Co. has a one year low of $33.56 and a one year high of $49.06. The company has a 50-day moving average of $38.43 and a two-hundred day moving average of $42.67. The stock has a market cap of $53.25 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC) last announced its earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, hitting the consensus estimate of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The company had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same period last year, the company posted $0.90 earnings per share. On average, equities research analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.12%. The ex-dividend date of this dividend was Friday, May 9th. Truist Financial’s payout ratio is 61.36%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Raymond James cut shares of Truist Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 2nd. Morgan Stanley lowered their target price on shares of Truist Financial from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Monday, April 7th. Wells Fargo & Company lowered their target price on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. TD Cowen assumed coverage on shares of Truist Financial in a research report on Thursday, May 15th. They set a “hold” rating and a $44.00 price objective for the company. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Truist Financial from $48.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Nine investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Truist Financial has a consensus rating of “Moderate Buy” and a consensus price target of $47.83.

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.