Mather Group LLC. Invests $132,000 in Truist Financial Co. (NYSE:TFC)

Mather Group LLC. acquired a new position in Truist Financial Co. (NYSE:TFC) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 3,568 shares of the insurance provider’s stock, valued at approximately $132,000.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Truist Financial by 0.3% in the third quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock worth $3,355,141,000 after buying an additional 365,871 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Truist Financial by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock worth $690,793,000 after buying an additional 1,458,248 shares during the period. Royal Bank of Canada grew its stake in shares of Truist Financial by 5.0% in the third quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock worth $440,162,000 after purchasing an additional 732,801 shares during the last quarter. Morgan Stanley grew its stake in shares of Truist Financial by 0.3% in the third quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock worth $439,568,000 after purchasing an additional 39,510 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Truist Financial by 11.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,731,538 shares of the insurance provider’s stock worth $322,395,000 after purchasing an additional 883,416 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on TFC. UBS Group raised their target price on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Evercore ISI reissued an “in-line” rating and issued a $44.00 target price on shares of Truist Financial in a research note on Thursday, May 9th. HSBC raised their target price on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Compass Point raised Truist Financial from a “neutral” rating to a “buy” rating and raised their target price for the stock from $34.00 to $42.00 in a research note on Tuesday, April 23rd. Finally, Wells Fargo & Company raised their target price on Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. One 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.17.

Truist Financial Stock Performance

Shares of TFC opened at $36.63 on Friday. 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 business’s 50 day moving average price is $37.74 and its 200-day moving average price is $36.97. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $40.51. The stock has a market cap of $49.01 billion, a P/E ratio of -27.75, a P/E/G ratio of 1.81 and a beta of 1.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the firm posted $1.09 EPS. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. Equities research analysts anticipate that Truist Financial Co. will post 3.36 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 10th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.68%. Truist Financial’s payout ratio is currently -157.58%.

About Truist Financial

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.