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

Asset Management One Co. Ltd. lifted its stake in Truist Financial Co. (NYSE:TFC) by 4.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 509,439 shares of the insurance provider’s stock after acquiring an additional 20,862 shares during the period. Asset Management One Co. Ltd.’s holdings in Truist Financial were worth $21,789,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TFC. 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 during the period. Legal & General Group Plc lifted its holdings in shares of 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 in the last quarter. Dimensional Fund Advisors LP boosted its position 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 valued at $346,957,000 after acquiring an additional 299,196 shares during the period. Truist Financial Corp grew its stake in 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 acquiring an additional 311,523 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Truist Financial by 1.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,489,411 shares of the insurance provider’s stock worth $136,018,000 after acquiring an additional 58,349 shares during the period. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Price Performance

TFC opened at $42.32 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $56.67 billion, a PE ratio of -29.59, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05. The stock’s 50 day moving average price is $42.76 and its 200-day moving average price is $40.81. Truist Financial Co. has a 52-week low of $28.93 and a 52-week high of $45.31.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.52 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.08 annualized dividend and a yield of 4.91%. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

Analyst Ratings Changes

Several research analysts have commented on TFC shares. Stephens reissued an “overweight” rating and issued a $50.00 price target on shares of Truist Financial in a report on Tuesday, September 10th. Compass Point boosted their target price on Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Baird R W cut Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Morgan Stanley boosted their price objective on Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Truist Financial has a consensus rating of “Hold” and a consensus target price of $46.02.

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.