Generali Asset Management SPA SGR Buys 42,566 Shares of Truist Financial Corporation $TFC

Generali Asset Management SPA SGR increased its position in shares of Truist Financial Corporation (NYSE:TFC) by 70.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 103,315 shares of the insurance provider’s stock after purchasing an additional 42,566 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Truist Financial were worth $5,084,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alliance Wealth Advisors LLC lifted its position in shares of Truist Financial by 1.8% in the 4th quarter. Alliance Wealth Advisors LLC now owns 11,298 shares of the insurance provider’s stock worth $556,000 after acquiring an additional 205 shares during the period. Private Trust Co. NA increased its position in shares of Truist Financial by 1.2% during the fourth quarter. Private Trust Co. NA now owns 18,778 shares of the insurance provider’s stock valued at $924,000 after purchasing an additional 215 shares during the period. Aspiriant LLC raised its stake in shares of Truist Financial by 2.3% in the fourth quarter. Aspiriant LLC now owns 9,721 shares of the insurance provider’s stock valued at $478,000 after purchasing an additional 219 shares in the last quarter. Aprio Wealth Management LLC raised its stake in shares of Truist Financial by 2.7% in the third quarter. Aprio Wealth Management LLC now owns 8,564 shares of the insurance provider’s stock valued at $392,000 after purchasing an additional 226 shares in the last quarter. Finally, Keystone Financial Group Inc. lifted its position in Truist Financial by 1.1% in the fourth quarter. Keystone Financial Group Inc. now owns 21,739 shares of the insurance provider’s stock worth $1,070,000 after purchasing an additional 227 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TFC. Royal Bank Of Canada lifted their price target on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Argus raised their price objective on shares of Truist Financial from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. TD Cowen lifted their target price on shares of Truist Financial from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Evercore reissued an “outperform” rating on shares of Truist Financial in a research note on Thursday, February 5th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.59.

Truist Financial Stock Down 1.3%

Shares of NYSE:TFC opened at $49.09 on Friday. The company’s fifty day moving average is $48.06 and its 200-day moving average is $48.48. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a 52 week low of $38.27 and a 52 week high of $56.19. The company has a market capitalization of $61.16 billion, a PE ratio of 12.18, a P/E/G ratio of 0.85 and a beta of 0.92.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.18 billion. During the same quarter last year, the company posted $0.87 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts predict that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.2%. Truist Financial’s dividend payout ratio (DPR) is presently 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.