SRS Capital Advisors Inc. Boosts Stock Holdings in Truist Financial Co. (NYSE:TFC)

SRS Capital Advisors Inc. boosted its stake in shares of Truist Financial Co. (NYSE:TFCGet Rating) by 18.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,115 shares of the insurance provider’s stock after acquiring an additional 644 shares during the period. SRS Capital Advisors Inc.’s holdings in Truist Financial were worth $241,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. BlackRock Inc. grew its stake in Truist Financial by 3.0% during the third quarter. BlackRock Inc. now owns 96,507,897 shares of the insurance provider’s stock valued at $5,660,188,000 after acquiring an additional 2,783,114 shares in the last quarter. Bank of America Corp DE grew its stake in Truist Financial by 0.5% during the fourth quarter. Bank of America Corp DE now owns 47,279,159 shares of the insurance provider’s stock valued at $2,768,196,000 after acquiring an additional 226,170 shares in the last quarter. Wellington Management Group LLP grew its stake in Truist Financial by 0.3% during the third quarter. Wellington Management Group LLP now owns 21,953,160 shares of the insurance provider’s stock valued at $1,287,553,000 after acquiring an additional 61,881 shares in the last quarter. Geode Capital Management LLC grew its stake in Truist Financial by 1.9% during the third quarter. Geode Capital Management LLC now owns 20,494,179 shares of the insurance provider’s stock valued at $1,198,724,000 after acquiring an additional 383,897 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Truist Financial by 11.2% in the 3rd quarter. Invesco Ltd. now owns 12,421,083 shares of the insurance provider’s stock worth $728,495,000 after buying an additional 1,249,631 shares in the last quarter. 71.85% of the stock is owned by institutional investors.

TFC traded down $1.90 on Friday, reaching $48.35. 10,699,045 shares of the company traded hands, compared to its average volume of 7,102,670. Truist Financial Co. has a one year low of $48.22 and a one year high of $68.95. The firm has a fifty day simple moving average of $56.33 and a two-hundred day simple moving average of $60.19. The company has a market cap of $64.26 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 1.73 and a beta of 1.15. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.58.

Truist Financial (NYSE:TFCGet Rating) last announced its quarterly earnings data on Tuesday, April 19th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.10. Truist Financial had a net margin of 27.89% and a return on equity of 12.70%. The company had revenue of $5.33 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same quarter last year, the business posted $1.18 EPS. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities analysts forecast that Truist Financial Co. will post 4.92 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $1.92 annualized dividend and a dividend yield of 3.97%. Truist Financial’s dividend payout ratio is currently 42.86%.

In other Truist Financial news, Director Steven C. Voorhees purchased 10,000 shares of Truist Financial stock in a transaction dated Friday, March 4th. The stock was acquired at an average price of $59.21 per share, for a total transaction of $592,100.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.31% of the company’s stock.

TFC has been the subject of a number of recent research reports. Morgan Stanley dropped their price objective on shares of Truist Financial from $72.00 to $63.00 and set an “equal weight” rating for the company in a research note on Monday, March 28th. Credit Suisse Group lifted their price objective on shares of Truist Financial from $62.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, January 24th. Piper Sandler dropped their price objective on shares of Truist Financial from $69.00 to $62.00 in a research note on Wednesday, April 20th. Barclays lifted their price objective on shares of Truist Financial from $64.00 to $72.00 in a research note on Monday, January 3rd. Finally, Bank of America cut shares of Truist Financial from a “buy” rating to a “neutral” rating and set a $58.00 price objective for the company. in a research note on Friday, April 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial presently has an average rating of “Hold” and an average price target of $65.38.

About Truist Financial (Get Rating)

Truist Financial Corporation, a holding 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.

Further Reading

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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