Truist Financial Corporation $TFC Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in Truist Financial Corporation (NYSE:TFC) by 0.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,401,234 shares of the insurance provider’s stock after selling 9,657 shares during the period. Principal Financial Group Inc. owned approximately 0.11% of Truist Financial worth $64,415,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TFC. Chicago Partners Investment Group LLC grew its stake in shares of Truist Financial by 13.0% in the 1st quarter. Chicago Partners Investment Group LLC now owns 9,485 shares of the insurance provider’s stock worth $483,000 after purchasing an additional 1,090 shares during the last quarter. Tradewinds LLC. lifted its stake in Truist Financial by 2.1% during the first quarter. Tradewinds LLC. now owns 40,618 shares of the insurance provider’s stock valued at $2,069,000 after purchasing an additional 851 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in Truist Financial during the first quarter valued at approximately $142,000. Diversify Wealth Management LLC bought a new stake in Truist Financial during the first quarter worth approximately $274,000. Finally, 180 Wealth Advisors LLC boosted its holdings in Truist Financial by 8.5% during the first quarter. 180 Wealth Advisors LLC now owns 4,621 shares of the insurance provider’s stock worth $212,000 after buying an additional 362 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Evercore reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Truist Financial in a report on Monday, July 6th. Bank of America restated a “neutral” rating and issued a $56.00 target price (up from $54.00) on shares of Truist Financial in a report on Wednesday, July 8th. Wall Street Zen lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Monday, June 29th. Royal Bank Of Canada upped their target price on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Finally, Jefferies Financial Group reiterated a “mixed” rating and issued a $45.00 price target on shares of Truist Financial in a research report on Friday, April 17th. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $54.47.

Truist Financial Trading Up 0.5%

Truist Financial stock opened at $53.08 on Friday. The company has a 50 day moving average price of $49.33 and a 200 day moving average price of $49.48. Truist Financial Corporation has a 52 week low of $40.78 and a 52 week high of $56.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $66.13 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 0.93 and a beta of 0.89.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.09. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.18 billion. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.87 EPS. Research analysts forecast that Truist Financial Corporation will post 4.51 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.9%. Truist Financial’s payout ratio is currently 51.61%.

Truist Financial Company 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.