National Pension Service Boosts Holdings in Truist Financial Co. (NYSE:TFC)

National Pension Service grew its holdings in Truist Financial Co. (NYSE:TFC) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,889,287 shares of the insurance provider’s stock after acquiring an additional 75,922 shares during the period. National Pension Service’s holdings in Truist Financial were worth $106,672,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Morton Brown Family Wealth LLC grew its holdings in Truist Financial by 236.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 649 shares during the period. OFI Invest Asset Management purchased a new position in Truist Financial during the third quarter valued at approximately $26,000. Criterion Capital Advisors LLC bought a new position in shares of Truist Financial during the 4th quarter valued at approximately $38,000. Operose Advisors LLC purchased a new position in shares of Truist Financial in the third quarter valued at $31,000. Finally, Tyler Stone Wealth Management bought a new stake in Truist Financial in the third quarter worth $33,000. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Keefe, Bruyette & Woods lifted their price target on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday. Stephens reaffirmed an “overweight” rating and issued a $43.00 price objective on shares of Truist Financial in a research note on Tuesday, April 23rd. UBS Group boosted their target price on Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $43.00 price target on shares of Truist Financial in a research report on Monday, April 22nd. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $42.70.

Truist Financial Stock Up 0.5 %

Shares of TFC stock traded up $0.18 during mid-day trading on Thursday, hitting $39.05. 2,032,456 shares of the stock traded hands, compared to its average volume of 9,340,718. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $52.12 billion, a P/E ratio of -29.84, a P/E/G ratio of 2.03 and a beta of 1.07. The stock’s fifty day moving average is $37.34 and its two-hundred day moving average is $35.39. Truist Financial Co. has a 52-week low of $26.49 and a 52-week high of $40.35.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.12. The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 earnings per share. Equities analysts predict that Truist Financial Co. will post 3.3 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 10th will be paid a $0.52 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.33%. Truist Financial’s dividend payout ratio (DPR) is -157.58%.

Truist Financial 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.