Natixis Advisors L.P. Raises Position in Truist Financial Co. (NYSE:TFC)

Natixis Advisors L.P. increased its stake in Truist Financial Co. (NYSE:TFC) by 30.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 373,375 shares of the insurance provider’s stock after purchasing an additional 88,035 shares during the quarter. Natixis Advisors L.P.’s holdings in Truist Financial were worth $13,783,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of TFC. Morton Brown Family Wealth LLC raised its stake in shares of Truist Financial by 236.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after buying an additional 649 shares during the period. OFI Invest Asset Management bought a new stake in Truist Financial in the 3rd quarter valued at about $26,000. Criterion Capital Advisors LLC purchased a new stake in Truist Financial during the fourth quarter valued at about $38,000. Operose Advisors LLC bought a new position in Truist Financial during the third quarter worth about $31,000. Finally, Tyler Stone Wealth Management purchased a new position in shares of Truist Financial in the third quarter worth about $33,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on TFC shares. Wells Fargo & Company raised their price objective on shares of Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods raised their price target on Truist Financial from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. TheStreet lowered Truist Financial from a “b-” rating to a “c” rating in a research note on Tuesday, February 20th. UBS Group upped their price target on Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Finally, Citigroup boosted their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial has a consensus rating of “Moderate Buy” and an average target price of $41.88.

Truist Financial Price Performance

TFC opened at $39.11 on Wednesday. The stock has a 50-day moving average price of $37.34 and a 200-day moving average price of $35.39. The stock has a market capitalization of $52.20 billion, a P/E ratio of -29.63, a PEG ratio of 2.03 and a beta of 1.07. Truist Financial Co. has a 12-month low of $26.49 and a 12-month high of $40.35. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period last year, the business earned $1.09 earnings per share. Equities analysts predict that Truist Financial Co. will post 3.3 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.32%. Truist Financial’s payout ratio is -157.58%.

Insider Activity

In related news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.17% of the company’s stock.

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.