Truist Financial Corporation $TFC Shares Purchased by National Pension Service

National Pension Service boosted its holdings in Truist Financial Corporation (NYSE:TFC) by 0.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 3,426,158 shares of the insurance provider’s stock after purchasing an additional 25,416 shares during the quarter. National Pension Service’s holdings in Truist Financial were worth $170,691,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of TFC. Capital International Investors boosted its position in shares of Truist Financial by 0.7% during the 4th quarter. Capital International Investors now owns 108,358,164 shares of the insurance provider’s stock valued at $5,332,835,000 after purchasing an additional 715,433 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Truist Financial in the 2nd quarter worth approximately $4,959,834,000. California State Teachers Retirement System raised its holdings in shares of Truist Financial by 4,694.8% in the 2nd quarter. California State Teachers Retirement System now owns 97,097,187 shares of the insurance provider’s stock worth $4,837,382,000 after purchasing an additional 95,072,155 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Truist Financial by 7.5% in the 4th quarter. Victory Capital Management Inc. now owns 31,964,393 shares of the insurance provider’s stock worth $1,572,968,000 after purchasing an additional 2,226,288 shares in the last quarter. Finally, Morgan Stanley lifted its stake in Truist Financial by 2.9% during the fourth quarter. Morgan Stanley now owns 20,931,279 shares of the insurance provider’s stock valued at $1,030,028,000 after purchasing an additional 597,255 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Price Performance

TFC opened at $50.31 on Friday. The firm has a market capitalization of $61.46 billion, a P/E ratio of 11.54, a PEG ratio of 1.05 and a beta of 0.88. The stock has a fifty day moving average of $51.56 and a 200-day moving average of $49.51. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.73. Truist Financial Corporation has a 12-month low of $40.78 and a 12-month high of $56.19.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.15. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.24 billion. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.Truist Financial’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 earnings per share. Equities analysts forecast that Truist Financial Corporation will post 4.58 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were issued a $0.52 dividend. The ex-dividend date was Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. Truist Financial’s dividend payout ratio is currently 47.71%.

Insider Activity

In other news, insider Donta L. Wilson sold 13,280 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $51.85, for a total value of $688,568.00. Following the completion of the sale, the insider directly owned 56,009 shares of the company’s stock, valued at $2,904,066.65. This represents a 19.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Rogers, Jr. sold 13,250 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $52.36, for a total transaction of $693,770.00. The SEC filing for this sale provides additional information. Insiders have sold 30,516 shares of company stock worth $1,584,428 in the last 90 days. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on TFC shares. Bank of America restated a “neutral” rating and set a $56.00 target price (up from $54.00) on shares of Truist Financial in a report on Wednesday, July 8th. Keefe, Bruyette & Woods upped their price target on Truist Financial from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Monday, July 20th. JPMorgan Chase & Co. increased their price objective on Truist Financial from $53.00 to $54.00 and gave the company an “underweight” rating in a research report on Wednesday, July 29th. Robert W. Baird raised their price objective on Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Finally, Citigroup cut Truist Financial from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $63.00 to $54.00 in a report on Tuesday, June 30th. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $55.12.

Truist Financial Company Profile

Truist Financial Corporation (NYSE:TFC) is a financial services company formed through the 2019 merger of BB&T Corporation and SunTrust Banks. Headquartered in Charlotte, North Carolina, Truist operates as a major commercial bank serving consumers, businesses, and institutions primarily across the United States.

Through its consumer and business banking operations, Truist provides checking and savings accounts, credit cards, mortgages, home equity lending, personal loans, commercial lending, treasury management, and payment services.