Truist Financial Corporation $TFC Shares Sold by Forsta AP Fonden

Forsta AP Fonden lowered its position in Truist Financial Corporation (NYSE:TFC) by 3.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 288,400 shares of the insurance provider’s stock after selling 11,000 shares during the quarter. Forsta AP Fonden’s holdings in Truist Financial were worth $14,192,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Truist Financial by 148.5% in the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after purchasing an additional 14,093 shares during the last quarter. Woodline Partners LP increased its position in shares of Truist Financial by 39.5% in the 1st quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock worth $4,575,000 after purchasing an additional 31,454 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Truist Financial in the 2nd quarter worth about $575,000. AXA S.A. increased its position in shares of Truist Financial by 23.1% in the 2nd quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock worth $1,126,000 after purchasing an additional 4,921 shares during the last quarter. Finally, Main Street Financial Solutions LLC increased its position in shares of Truist Financial by 20.1% in the 2nd quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock worth $292,000 after purchasing an additional 1,134 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $48.12 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a fifty-two week low of $38.67 and a fifty-two week high of $56.19. The firm has a 50-day simple moving average of $48.28 and a 200 day simple moving average of $48.86. The company has a market cap of $59.96 billion, a PE ratio of 11.94, a P/E/G ratio of 0.82 and a beta of 0.92.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter in the prior year, the firm earned $0.87 EPS. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Truist Financial Corporation will post 4.52 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, May 8th. Truist Financial’s dividend payout ratio is currently 51.61%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TFC shares. Weiss Ratings raised shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Wall Street Zen raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Royal Bank Of Canada boosted their target price on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. Jefferies Financial Group reissued a “mixed” rating and issued a $45.00 target price on shares of Truist Financial in a research report on Friday, April 17th. Finally, Evercore reissued an “outperform” rating on shares of Truist Financial in a research report on Thursday, February 5th. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.59.

About Truist Financial

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.