Eurizon Capital SGR S.p.A. Buys New Position in Truist Financial Corporation $TFC

Eurizon Capital SGR S.p.A. bought a new stake in shares of Truist Financial Corporation (NYSE:TFC) during the 4th quarter, HoldingsChannel reports. The firm bought 530,054 shares of the insurance provider’s stock, valued at approximately $26,087,000.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Truist Financial by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 119,740,969 shares of the insurance provider’s stock valued at $5,892,453,000 after buying an additional 701,049 shares during the period. Capital International Investors raised its holdings in shares of Truist Financial by 0.3% during the 3rd quarter. Capital International Investors now owns 107,642,731 shares of the insurance provider’s stock valued at $4,921,717,000 after buying an additional 346,423 shares during the period. Wellington Management Group LLP raised its holdings in shares of Truist Financial by 13,511.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider’s stock valued at $474,886,000 after buying an additional 10,310,523 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Truist Financial by 2.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 8,492,845 shares of the insurance provider’s stock valued at $388,300,000 after buying an additional 168,464 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Truist Financial by 0.6% during the 4th quarter. Legal & General Group Plc now owns 7,946,971 shares of the insurance provider’s stock valued at $391,070,000 after buying an additional 44,167 shares during the period. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Price Performance

Shares of NYSE TFC opened at $48.12 on Friday. Truist Financial Corporation has a twelve month low of $38.67 and a twelve month high of $56.19. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $59.96 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 0.82 and a beta of 0.92. The business has a 50 day simple moving average of $48.28 and a 200-day simple moving average of $48.86.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same period in the previous year, the business earned $0.87 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts expect that Truist Financial Corporation will post 4.52 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 1st. Stockholders of record on Friday, May 8th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, May 8th. Truist Financial’s payout ratio is 51.61%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada raised their price objective on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Wall Street Zen upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. JPMorgan Chase & Co. lowered their price objective on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Finally, Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research note on Friday, May 1st. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and an average price target of $55.59.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.