Securian Asset Management Inc. Has $1.71 Million Holdings in Truist Financial Corporation $TFC

Securian Asset Management Inc. cut its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 44.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 34,785 shares of the insurance provider’s stock after selling 27,486 shares during the quarter. Securian Asset Management Inc.’s holdings in Truist Financial were worth $1,712,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. Alliance Wealth Advisors LLC raised its stake in shares of Truist Financial by 1.8% in the fourth quarter. Alliance Wealth Advisors LLC now owns 11,298 shares of the insurance provider’s stock valued at $556,000 after purchasing an additional 205 shares in the last quarter. Private Trust Co. NA raised its stake in shares of Truist Financial by 1.2% in 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 in the last quarter. 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. raised its stake in shares of Truist Financial by 1.1% in the fourth quarter. Keystone Financial Group Inc. now owns 21,739 shares of the insurance provider’s stock valued at $1,070,000 after purchasing an additional 227 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TFC. TD Cowen upped their target price on Truist Financial from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Argus upped their target price on Truist Financial from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. 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 research note on Monday, April 20th. Finally, Evercore restated an “outperform” rating on shares of Truist Financial in a research note on Thursday, February 5th. 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.59.

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $47.96 on Tuesday. The business’s fifty day moving average price is $47.96 and its two-hundred day moving average price is $48.54. Truist Financial Corporation has a fifty-two week low of $38.27 and a fifty-two week high of $56.19. The stock has a market capitalization of $59.75 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 0.84 and a beta of 0.92. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last announced 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 firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.18 billion. During the same period in the prior year, the business posted $0.87 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. As a group, analysts predict that Truist Financial Corporation will post 4.52 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 8th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, May 8th. Truist Financial’s dividend payout ratio is 51.61%.

About Truist Financial

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.