Fjarde AP Fonden Fourth Swedish National Pension Fund Has $9.84 Million Position in Truist Financial Co. (NYSE:TFC)

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in Truist Financial Co. (NYSE:TFC) by 19.7% during the fourth quarter, HoldingsChannel reports. The firm owned 226,798 shares of the insurance provider’s stock after selling 55,756 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Truist Financial were worth $9,838,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Truist Financial by 48.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock worth $129,000 after buying an additional 971 shares during the last quarter. Principal Financial Group Inc. increased its position in Truist Financial by 3.5% during the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after acquiring an additional 50,637 shares during the period. Cadence Bank raised its stake in Truist Financial by 101.6% during the 3rd quarter. Cadence Bank now owns 185,184 shares of the insurance provider’s stock valued at $7,920,000 after purchasing an additional 93,322 shares during the last quarter. Country Club Bank boosted its holdings in Truist Financial by 719.8% in the 4th quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock valued at $1,973,000 after purchasing an additional 39,949 shares during the period. Finally, David Wealth Management LLC acquired a new stake in Truist Financial in the 4th quarter worth $2,354,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Down 2.1 %

NYSE:TFC opened at $45.67 on Monday. Truist Financial Co. has a 1 year low of $34.26 and a 1 year high of $49.06. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The stock has a market cap of $60.62 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.63 and a beta of 1.08. The stock has a 50-day moving average price of $45.61 and a two-hundred day moving average price of $44.52.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period in the prior year, the business earned $0.81 EPS. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.55%. The ex-dividend date is Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Compass Point upped their price target on Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Raymond James upped their price target on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Morgan Stanley lifted their price target on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Finally, Piper Sandler boosted their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.79.

Insider Buying and Selling at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the sale, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.

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.