Plato Investment Management Ltd Raises Stake in Truist Financial Co. (NYSE:TFC)

Plato Investment Management Ltd boosted its stake in Truist Financial Co. (NYSE:TFCFree Report) by 94.6% in the 3rd quarter, Holdings Channel reports. The firm owned 12,721 shares of the insurance provider’s stock after acquiring an additional 6,184 shares during the quarter. Plato Investment Management Ltd’s holdings in Truist Financial were worth $544,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TFC. Capital International Investors raised its position in shares of Truist Financial by 93.7% in the first quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after buying an additional 5,632,493 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Truist Financial by 316.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock valued at $90,585,000 after acquiring an additional 1,609,351 shares in the last quarter. Swedbank AB bought a new stake in shares of Truist Financial during the 1st quarter valued at about $29,957,000. National Bank of Canada FI grew its holdings in shares of Truist Financial by 41.8% during the first quarter. National Bank of Canada FI now owns 1,835,736 shares of the insurance provider’s stock worth $72,446,000 after purchasing an additional 541,037 shares in the last quarter. Finally, GW Henssler & Associates Ltd. increased its position in shares of Truist Financial by 4,435.3% in the third quarter. GW Henssler & Associates Ltd. now owns 505,145 shares of the insurance provider’s stock worth $21,605,000 after purchasing an additional 494,007 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 0.6 %

Shares of Truist Financial stock opened at $46.25 on Friday. The business has a 50 day moving average of $43.03 and a 200 day moving average of $41.13. Truist Financial Co. has a 52 week low of $31.12 and a 52 week high of $47.57. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85.

Truist Financial (NYSE:TFCGet Free Report) last posted its earnings results on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.89 by $0.08. Truist Financial had a negative net margin of 4.89% and a positive return on equity of 9.35%. The firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. On average, equities research analysts predict that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.50%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio is currently -145.45%.

Analyst Ratings Changes

TFC has been the subject of several research analyst reports. Citigroup lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and lifted their target price for the company from $45.00 to $47.00 in a research report on Wednesday, July 24th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Argus lifted their price target on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Bank of America boosted their target price on Truist Financial from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, UBS Group increased their price target on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $46.02.

Check Out Our Latest Research Report on TFC

About Truist Financial

(Free Report)

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.

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Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Co. (NYSE:TFCFree Report).

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

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