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

National Pension Service grew its position in shares of Truist Financial Co. (NYSE:TFC) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,889,287 shares of the insurance provider’s stock after purchasing an additional 75,922 shares during the quarter. National Pension Service owned approximately 0.22% of Truist Financial worth $106,672,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TFC. Mackenzie Financial Corp lifted its position in Truist Financial by 10.3% during the third quarter. Mackenzie Financial Corp now owns 152,687 shares of the insurance provider’s stock valued at $4,152,000 after buying an additional 14,230 shares during the period. NBT Bank N A NY grew its stake in Truist Financial by 2.9% during the third quarter. NBT Bank N A NY now owns 12,781 shares of the insurance provider’s stock valued at $366,000 after acquiring an additional 366 shares in the last quarter. Advisor Partners II LLC grew its holdings in Truist Financial by 87.0% during the 3rd quarter. Advisor Partners II LLC now owns 43,040 shares of the insurance provider’s stock valued at $1,231,000 after buying an additional 20,029 shares in the last quarter. Conning Inc. raised its position in shares of Truist Financial by 5.0% during the 3rd quarter. Conning Inc. now owns 7,815 shares of the insurance provider’s stock valued at $224,000 after buying an additional 370 shares in the last quarter. Finally, Gratus Capital LLC raised its holdings in shares of Truist Financial by 10.4% in the third quarter. Gratus Capital LLC now owns 10,670 shares of the insurance provider’s stock worth $305,000 after buying an additional 1,002 shares during the period. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TFC has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, January 19th. HSBC lifted their target price on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday. Citigroup raised their price target on shares of Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Piper Sandler raised their target price on shares of Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, January 19th. Finally, Wells Fargo & Company boosted their target price on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and a consensus target price of $42.70.

Truist Financial Stock Performance

Shares of NYSE TFC traded up $0.18 during trading hours on Thursday, reaching $39.05. 2,032,456 shares of the stock were exchanged, compared to its average volume of 9,340,718. 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’s fifty day simple moving average is $37.34 and its 200 day simple moving average is $35.39. Truist Financial Co. has a 52 week low of $26.49 and a 52 week high of $40.35. The firm has a market capitalization of $52.12 billion, a price-to-earnings ratio of -29.84, a P/E/G ratio of 2.03 and a beta of 1.07.

Truist Financial (NYSE:TFC) last posted 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 company had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the previous year, the firm earned $1.09 EPS. Truist Financial’s revenue was down 8.8% on a year-over-year basis. Sell-side analysts predict that Truist Financial Co. will post 3.3 EPS for the current year.

Truist Financial Announces Dividend

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

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.17% of the company’s stock.

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.