Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Position in Truist Financial Corporation $TFC

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 22.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 220,698 shares of the insurance provider’s stock after buying an additional 40,100 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Truist Financial were worth $9,488,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Wealth Preservation Advisors LLC acquired a new position in shares of Truist Financial during the 1st quarter valued at $25,000. Centennial Bank AR raised its position in Truist Financial by 360.2% in the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 580 shares during the period. Princeton Global Asset Management LLC purchased a new position in Truist Financial in the second quarter valued at about $30,000. Motco lifted its stake in shares of Truist Financial by 435.6% during the first quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 649 shares in the last quarter. Finally, Ramirez Asset Management Inc. boosted its position in shares of Truist Financial by 60.0% in the second quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock worth $34,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TFC shares. Wells Fargo & Company reiterated an “equal weight” rating and issued a $47.00 target price on shares of Truist Financial in a research note on Thursday, August 21st. Evercore ISI increased their price objective on shares of Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. Morgan Stanley upped their target price on shares of Truist Financial from $54.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, October 20th. Finally, Piper Sandler set a $48.00 price target on shares of Truist Financial in a research note on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $50.59.

Truist Financial Stock Performance

Truist Financial stock opened at $43.89 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The stock has a 50 day moving average of $45.06 and a 200-day moving average of $42.71. The stock has a market cap of $56.59 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 1.21 and a beta of 0.88. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.05. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.20 billion. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 earnings per share. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, analysts expect that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.7%. Truist Financial’s dividend payout ratio (DPR) is presently 55.91%.

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.