National Pension Service Buys 172,599 Shares of Truist Financial Corporation (NYSE:TFC)

National Pension Service boosted its stake in shares of Truist Financial Corporation (NYSE:TFC) by 5.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,118,640 shares of the insurance provider’s stock after purchasing an additional 172,599 shares during the period. National Pension Service owned about 0.24% of Truist Financial worth $128,332,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital International Investors lifted its position in Truist Financial by 26.0% during the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider’s stock valued at $3,930,983,000 after purchasing an additional 18,712,246 shares during the period. Northern Trust Corp increased its holdings in Truist Financial by 20.5% during the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider’s stock valued at $626,154,000 after buying an additional 2,452,239 shares during the last quarter. Invesco Ltd. increased its holdings in Truist Financial by 32.0% during the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock valued at $540,723,000 after buying an additional 3,188,999 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Truist Financial by 13.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,738,289 shares of the insurance provider’s stock valued at $465,827,000 after buying an additional 1,307,252 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in Truist Financial by 0.9% during the first quarter. Federated Hermes Inc. now owns 9,511,639 shares of the insurance provider’s stock valued at $391,404,000 after buying an additional 89,373 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total transaction of $566,682.60. Following the completion of the transaction, the insider owned 500 shares in the company, valued at $22,595. This trade represents a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $44.87 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a fifty day moving average price of $43.13 and a 200 day moving average price of $41.95. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The firm has a market cap of $57.86 billion, a price-to-earnings ratio of 12.23, a P/E/G ratio of 1.64 and a beta of 0.87.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Truist Financial had a return on equity of 8.69% and a net margin of 16.82%. The company had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter in the prior year, the company posted $0.91 EPS. Truist Financial’s revenue was down 406.0% compared to the same quarter last year. As a group, sell-side analysts expect that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 8th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, August 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.6%. Truist Financial’s dividend payout ratio is currently 56.68%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TFC. Stephens reduced their target price on shares of Truist Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Piper Sandler reduced their target price on shares of Truist Financial from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Argus set a $43.00 target price on shares of Truist Financial in a report on Monday, April 21st. TD Cowen began coverage on shares of Truist Financial in a report on Thursday, May 15th. They set a “hold” rating and a $44.00 target price for the company. Finally, Barclays reduced their target price on shares of Truist Financial from $51.00 to $47.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Six analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and a consensus target price of $48.65.

Truist Financial Company 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.