Brown Advisory Inc. Has $14.75 Million Stock Holdings in Truist Financial Co. (NYSE:TFC)

Brown Advisory Inc. reduced its position in shares of Truist Financial Co. (NYSE:TFC) by 12.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 399,537 shares of the insurance provider’s stock after selling 57,792 shares during the period. Brown Advisory Inc.’s holdings in Truist Financial were worth $14,751,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Truist Financial by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock valued at $3,355,141,000 after purchasing an additional 365,871 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Truist Financial by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock worth $690,793,000 after buying an additional 1,458,248 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Truist Financial by 5.0% in the 3rd quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock valued at $440,162,000 after acquiring an additional 732,801 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Truist Financial by 0.3% during the 3rd quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock valued at $439,568,000 after acquiring an additional 39,510 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Truist Financial by 11.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,731,538 shares of the insurance provider’s stock worth $322,395,000 after acquiring an additional 883,416 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TFC shares. TheStreet downgraded Truist Financial from a “b-” rating to a “c” rating in a research report on Tuesday, February 20th. Morgan Stanley reiterated an “equal weight” rating and issued a $43.00 price objective on shares of Truist Financial in a report on Monday, April 22nd. Stephens boosted their target price on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Finally, Barclays began coverage on Truist Financial in a report on Thursday, May 16th. They issued an “equal weight” rating and a $43.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.17.

Truist Financial Stock Performance

Shares of TFC stock opened at $39.03 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $40.51. The firm has a 50 day moving average of $37.91 and a 200-day moving average of $36.11. The company has a market cap of $52.23 billion, a price-to-earnings ratio of -29.57, a price-to-earnings-growth ratio of 1.99 and a beta of 1.07.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same period last year, the company posted $1.09 earnings per share. The business’s quarterly revenue was down 8.8% on a year-over-year basis. On average, equities analysts forecast that Truist Financial Co. will post 3.34 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend payout ratio (DPR) is currently -157.58%.

Insider Buying and Selling

In related news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the sale, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.17% of the stock is owned by company insiders.

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.