Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its holdings in Truist Financial Corporation (NYSE:TFC – Free Report) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 209,198 shares of the insurance provider’s stock after selling 10,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Truist Financial were worth $10,295,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Brighton Jones LLC lifted its position in 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 buying an additional 14,093 shares during the last quarter. Woodline Partners LP grew 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 buying 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 approximately $575,000. AXA S.A. grew 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 buying an additional 4,921 shares during the last quarter. Finally, Main Street Financial Solutions LLC grew 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 buying an additional 1,134 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.
Truist Financial Stock Up 0.1%
TFC stock opened at $49.24 on Friday. The stock has a market capitalization of $61.35 billion, a P/E ratio of 12.22, a P/E/G ratio of 0.84 and a beta of 0.89. 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 business has a fifty day moving average price of $48.63 and a 200-day moving average price of $48.97. Truist Financial Corporation has a 1-year low of $38.83 and a 1-year high of $56.19.
Truist Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were given a dividend of $0.52 per share. The ex-dividend date was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. Truist Financial’s dividend payout ratio is 51.61%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on TFC shares. Morgan Stanley cut their price objective on Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Monday, April 20th. Jefferies Financial Group reiterated a “mixed” rating and issued a $45.00 price objective on shares of Truist Financial in a research report on Friday, April 17th. Wall Street Zen upgraded Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. dropped their price target on Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and an average target price of $55.59.
Get Our Latest Stock Analysis on TFC
Truist Financial Company 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.
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