Securian Asset Management Inc. Sells 2,717 Shares of Truist Financial Co. (NYSE:TFC)

Securian Asset Management Inc. lowered its position in Truist Financial Co. (NYSE:TFC) by 3.7% during the 4th quarter, Holdings Channel reports. The firm owned 71,348 shares of the insurance provider’s stock after selling 2,717 shares during the quarter. Securian Asset Management Inc.’s holdings in Truist Financial were worth $3,095,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TFC. Hopwood Financial Services Inc. purchased a new position in shares of Truist Financial during the fourth quarter valued at $26,000. EverSource Wealth Advisors LLC grew its holdings in Truist Financial by 24.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 10,320 shares of the insurance provider’s stock worth $448,000 after acquiring an additional 2,055 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Truist Financial by 1.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 35,097 shares of the insurance provider’s stock valued at $1,523,000 after purchasing an additional 616 shares during the period. HighTower Advisors LLC raised its holdings in shares of Truist Financial by 5.6% in the 4th quarter. HighTower Advisors LLC now owns 4,119,723 shares of the insurance provider’s stock valued at $178,714,000 after purchasing an additional 217,832 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its position in shares of Truist Financial by 53.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 14,633 shares of the insurance provider’s stock worth $635,000 after purchasing an additional 5,085 shares during the period. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TFC shares. Compass Point lifted their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. The Goldman Sachs Group boosted their price target on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Morgan Stanley raised their price objective on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Raymond James boosted their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, January 7th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.16.

Truist Financial Price Performance

NYSE TFC opened at $39.80 on Thursday. The stock’s fifty day moving average price is $45.53 and its 200 day moving average price is $44.62. Truist Financial Co. has a 1 year low of $34.51 and a 1 year high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $51.95 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data 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 analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the business posted $0.81 earnings per share. As a group, equities research analysts forecast that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.23%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

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.