Nomura Asset Management Co. Ltd. Buys 1,827 Shares of Truist Financial Co. (NYSE:TFC)

Nomura Asset Management Co. Ltd. increased its stake in shares of Truist Financial Co. (NYSE:TFC) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 384,862 shares of the insurance provider’s stock after purchasing an additional 1,827 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Truist Financial were worth $14,209,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Missouri Trust & Investment Co grew its stake in shares of Truist Financial by 227.2% during the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 593 shares during the last quarter. Northwest Financial Advisors bought a new stake in shares of Truist Financial during the fourth quarter valued at approximately $34,000. Morton Brown Family Wealth LLC grew its stake in shares of Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 649 shares during the last quarter. Criterion Capital Advisors LLC bought a new stake in shares of Truist Financial during the fourth quarter valued at approximately $38,000. Finally, Operose Advisors LLC bought a new position in Truist Financial in the third quarter valued at approximately $31,000. 71.28% of the stock is owned by institutional investors.

Insider Buying and Selling at Truist Financial

In other Truist Financial 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 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 can be accessed through this link. Company insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TFC. Keefe, Bruyette & Woods raised their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. JPMorgan Chase & Co. raised their price objective on shares of Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. HSBC raised their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Wells Fargo & Company raised their price objective on shares of Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Jefferies Financial Group raised their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Monday, April 8th. One equities research 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’s stock. According to data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and an average target price of $43.17.

Truist Financial Trading Up 0.4 %

Shares of NYSE:TFC opened at $38.40 on Monday. Truist Financial Co. has a 12 month low of $26.57 and a 12 month high of $40.51. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. The company’s fifty day simple moving average is $38.15 and its 200 day simple moving average is $36.34. The firm has a market cap of $51.38 billion, a price-to-earnings ratio of -29.09, a PEG ratio of 1.92 and a beta of 1.07.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the previous year, the business earned $1.09 EPS. The company’s revenue was down 8.8% compared to the same quarter last year. As a group, research analysts forecast that Truist Financial Co. will post 3.33 EPS for the current fiscal year.

Truist Financial Announces Dividend

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 paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.42%. Truist Financial’s payout ratio is currently -157.58%.

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.