Asset Management One Co. Ltd. Buys 20,862 Shares of Truist Financial Co. (NYSE:TFC)

Asset Management One Co. Ltd. grew its stake in Truist Financial Co. (NYSE:TFC) by 4.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 509,439 shares of the insurance provider’s stock after purchasing an additional 20,862 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Truist Financial were worth $21,789,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Capital International Investors boosted its stake in Truist Financial by 93.7% in the 1st quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after purchasing an additional 5,632,493 shares in the last quarter. Legal & General Group Plc raised its holdings in Truist Financial by 1.0% in the second quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock worth $401,663,000 after buying an additional 103,565 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Truist Financial by 3.5% in 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 in the last quarter. Truist Financial Corp grew its holdings in shares of Truist Financial by 6.7% during the second quarter. Truist Financial Corp now owns 4,931,783 shares of the insurance provider’s stock valued at $191,600,000 after buying an additional 311,523 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Truist Financial by 1.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,489,411 shares of the insurance provider’s stock valued at $136,018,000 after acquiring an additional 58,349 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on TFC. StockNews.com upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Compass Point increased their price objective on Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Barclays boosted their target price on Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Citigroup downgraded shares of Truist Financial from a “buy” rating to a “neutral” rating and raised their price target for the company from $45.00 to $47.00 in a report on Wednesday, July 24th. Finally, Stephens reissued an “overweight” rating and set a $50.00 price objective on shares of Truist Financial in a report on Tuesday, September 10th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Truist Financial has a consensus rating of “Hold” and an average target price of $46.02.

Truist Financial Stock Performance

Shares of TFC opened at $42.32 on Wednesday. Truist Financial Co. has a 52 week low of $28.93 and a 52 week high of $45.31. 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 stock has a market cap of $56.67 billion, a price-to-earnings ratio of -29.59, a PEG ratio of 1.77 and a beta of 1.05. The business has a 50-day simple moving average of $42.76 and a two-hundred day simple moving average of $40.81.

Truist Financial Announces Dividend

The company also recently announced 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 4.91%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s payout ratio is -145.45%.

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.