ASR Vermogensbeheer N.V. Grows Position in Truist Financial Corporation $TFC

ASR Vermogensbeheer N.V. raised its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 4.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 106,783 shares of the insurance provider’s stock after purchasing an additional 4,901 shares during the quarter. ASR Vermogensbeheer N.V.’s holdings in Truist Financial were worth $4,590,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Truist Financial by 148.5% during the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock worth $1,023,000 after acquiring an additional 14,093 shares in the last quarter. Merit Financial Group LLC lifted its position in shares of Truist Financial by 31.3% during the first quarter. Merit Financial Group LLC now owns 51,203 shares of the insurance provider’s stock worth $2,107,000 after acquiring an additional 12,202 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in Truist Financial by 10.9% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 35,683 shares of the insurance provider’s stock worth $1,468,000 after purchasing an additional 3,508 shares in the last quarter. Apella Capital LLC purchased a new stake in Truist Financial during the 1st quarter worth about $277,000. Finally, Naples Global Advisors LLC lifted its holdings in Truist Financial by 3.4% during the 1st quarter. Naples Global Advisors LLC now owns 14,420 shares of the insurance provider’s stock worth $593,000 after purchasing an additional 468 shares in the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Truist Financial in a report on Saturday, September 27th. 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 target price on shares of Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research note on Tuesday. Morgan Stanley increased their target price on shares of Truist Financial from $48.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Citigroup upgraded Truist Financial from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $44.00 to $55.00 in a research report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.89.

Insider Activity at Truist Financial

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction that occurred 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 transaction, the insider directly owned 500 shares of the company’s stock, valued at approximately $22,595. This trade represents a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.17% of the company’s stock.

Truist Financial Trading Up 0.4%

NYSE TFC opened at $45.53 on Friday. The stock’s 50-day simple moving average is $45.15 and its two-hundred day simple moving average is $42.07. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $58.71 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 1.45 and a beta of 0.88.

Truist Financial (NYSE:TFC) last released its quarterly 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). The firm had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $5.04 billion. Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. The company’s revenue for the quarter was down 406.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 EPS. Research analysts forecast that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.6%. Truist Financial’s dividend payout ratio (DPR) is 56.68%.

About Truist Financial

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.