Fjarde AP Fonden Fourth Swedish National Pension Fund Has $15.08 Million Stake in Truist Financial Corporation $TFC

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Truist Financial Corporation (NYSE:TFC) by 56.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 328,098 shares of the insurance provider’s stock after purchasing an additional 118,900 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Truist Financial were worth $15,083,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TFC. Brighton Jones LLC lifted its position in Truist Financial by 148.5% during the 4th quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after buying an additional 14,093 shares in the last quarter. Woodline Partners LP grew its holdings 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 valued at $4,575,000 after acquiring an additional 31,454 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Truist Financial in the 2nd quarter valued at about $575,000. AXA S.A. increased its position in shares of Truist Financial by 23.1% in the second quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock valued at $1,126,000 after acquiring 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 second quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock valued at $292,000 after acquiring an additional 1,134 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Stock Down 0.1%

Truist Financial stock opened at $50.95 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The company’s 50-day moving average is $49.17 and its 200-day moving average is $49.40. The firm has a market capitalization of $63.47 billion, a PE ratio of 12.64, a P/E/G ratio of 0.87 and a beta of 0.89. Truist Financial Corporation has a fifty-two week low of $40.78 and a fifty-two week high of $56.19.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period last year, the business posted $0.87 EPS. Truist Financial’s revenue was up 5.0% on a year-over-year basis. Sell-side analysts anticipate that Truist Financial Corporation will post 4.52 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were paid a $0.52 dividend. The ex-dividend date was Friday, May 8th. This represents a $2.08 annualized dividend and a yield of 4.1%. Truist Financial’s dividend payout ratio is currently 51.61%.

Analyst Upgrades and Downgrades

TFC has been the topic of several analyst reports. Stephens began coverage on Truist Financial in a report on Monday, June 15th. They set an “overweight” rating and a $59.00 target price on the stock. Raymond James Financial reaffirmed a “market perform” rating on shares of Truist Financial in a research report on Wednesday. Wall Street Zen cut Truist Financial from a “hold” rating to a “sell” rating in a research note on Monday, June 29th. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Finally, Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Friday, May 1st. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.26.

Truist Financial Profile

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.