Sound View Wealth Advisors Group LLC Has $1.22 Million Stake in Truist Financial Co. (NYSE:TFC)

Sound View Wealth Advisors Group LLC boosted its stake in Truist Financial Co. (NYSE:TFC) by 3.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,126 shares of the insurance provider’s stock after buying an additional 901 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Truist Financial were worth $1,220,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. State Street Corp boosted its stake in Truist Financial by 4.6% in the 3rd quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after buying an additional 2,720,223 shares in the last quarter. Geode Capital Management LLC boosted its stake in Truist Financial by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock valued at $1,169,350,000 after buying an additional 456,412 shares in the last quarter. Amundi boosted its stake in Truist Financial by 6.5% in the 4th quarter. Amundi now owns 23,683,345 shares of the insurance provider’s stock valued at $1,040,718,000 after buying an additional 1,450,323 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Truist Financial by 3.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,431,037 shares of the insurance provider’s stock valued at $403,365,000 after buying an additional 288,306 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Truist Financial by 8.5% in the 4th quarter. Bank of New York Mellon Corp now owns 8,484,992 shares of the insurance provider’s stock valued at $368,079,000 after buying an additional 662,179 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. The Goldman Sachs Group upped their price target on Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Wells Fargo & Company upped their price target on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $48.00 to $52.00 in a report on Wednesday, March 5th. Finally, Baird R W upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.16.

Truist Financial Stock Performance

Shares of NYSE TFC opened at $42.25 on Monday. The stock has a 50 day moving average price of $45.73 and a 200 day moving average price of $44.69. Truist Financial Co. has a 52 week low of $34.51 and a 52 week high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $55.15 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the prior year, the firm posted $0.81 earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. Analysts predict that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.52 per share. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 4.92%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

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.