WINTON GROUP Ltd Purchases Shares of 70,489 Truist Financial Corporation $TFC

WINTON GROUP Ltd purchased a new stake in shares of Truist Financial Corporation (NYSE:TFC) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 70,489 shares of the insurance provider’s stock, valued at approximately $3,469,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Truist Financial by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 119,740,969 shares of the insurance provider’s stock valued at $5,892,453,000 after acquiring an additional 701,049 shares during the period. Capital International Investors raised its holdings in Truist Financial by 0.3% during the third quarter. Capital International Investors now owns 107,642,731 shares of the insurance provider’s stock valued at $4,921,717,000 after acquiring an additional 346,423 shares during the period. Bank of New York Mellon Corp raised its holdings in Truist Financial by 37.6% during the fourth quarter. Bank of New York Mellon Corp now owns 10,500,542 shares of the insurance provider’s stock valued at $516,732,000 after acquiring an additional 2,867,449 shares during the period. Wellington Management Group LLP raised its holdings in Truist Financial by 13,511.7% during the third quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider’s stock valued at $474,886,000 after acquiring an additional 10,310,523 shares during the period. Finally, Norges Bank bought a new stake in Truist Financial during the fourth quarter valued at about $502,340,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Trading Up 0.1%

Shares of TFC stock opened at $49.24 on Monday. Truist Financial Corporation has a 12-month low of $38.83 and a 12-month high of $56.19. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The stock’s 50-day moving average price is $48.63 and its 200-day moving average price is $49.00. The stock has a market capitalization of $61.35 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 0.84 and a beta of 0.89.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.18 billion. During the same period in the previous year, the firm posted $0.87 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. Equities research analysts predict that Truist Financial Corporation will post 4.52 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, May 8th. Truist Financial’s payout ratio is 51.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TFC shares. Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Royal Bank Of Canada raised their price target on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Robert W. Baird cut Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target on the stock. in a report on Friday, May 1st. Morgan Stanley decreased their price target on Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a report on Monday, April 20th. Finally, Jefferies Financial Group reaffirmed a “mixed” rating and issued a $45.00 target price on shares of Truist Financial in a report on Friday, April 17th. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Truist Financial has an average rating of “Moderate Buy” and a consensus price target of $55.59.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.