Alaska Permanent Fund Corp Has $2.63 Million Stock Holdings in Truist Financial Co. (NYSE:TFC)

Alaska Permanent Fund Corp trimmed its holdings in shares of Truist Financial Co. (NYSE:TFC) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,191 shares of the insurance provider’s stock after selling 309 shares during the period. Alaska Permanent Fund Corp’s holdings in Truist Financial were worth $2,628,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TFC. North Reef Capital Management LP bought a new stake in shares of Truist Financial in the 3rd quarter valued at about $66,804,000. Assenagon Asset Management S.A. raised its holdings in shares of Truist Financial by 342.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,526,939 shares of the insurance provider’s stock valued at $72,296,000 after purchasing an additional 1,955,448 shares during the period. Jennison Associates LLC raised its holdings in shares of Truist Financial by 45.1% in the 3rd quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock valued at $105,102,000 after purchasing an additional 1,141,944 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Truist Financial by 3,359.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock valued at $38,602,000 after purchasing an additional 1,015,338 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Truist Financial by 1,155.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,054,500 shares of the insurance provider’s stock valued at $30,169,000 after purchasing an additional 970,500 shares during the period. 71.28% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TFC shares. Jefferies Financial Group increased their price target on shares of Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Monday, April 8th. Barclays raised their target price on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. StockNews.com cut shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Raymond James increased their price target on shares of Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Finally, UBS Group raised their target price on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.97.

Truist Financial Stock Performance

TFC traded down $0.91 during midday trading on Thursday, reaching $37.88. The company had a trading volume of 1,046,598 shares, compared to its average volume of 9,581,867. The business has a 50-day moving average price of $36.83 and a two-hundred day moving average price of $34.73. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $39.29. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $50.55 billion, a PE ratio of -29.39, a P/E/G ratio of 2.45 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the firm posted $1.09 EPS. Truist Financial’s revenue was down 8.8% on a year-over-year basis. On average, sell-side analysts expect that Truist Financial Co. will post 3.26 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.49%. The ex-dividend date is Thursday, May 9th. Truist Financial’s dividend 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.