Alaska Permanent Fund Corp Has $2.63 Million Stake in Truist Financial Co. (NYSE:TFC)

Alaska Permanent Fund Corp lowered its stake in Truist Financial Co. (NYSE:TFC) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 71,191 shares of the insurance provider’s stock after selling 309 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Truist Financial were worth $2,628,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of TFC. North Reef Capital Management LP acquired a new stake in shares of Truist Financial in the third quarter valued at about $66,804,000. Assenagon Asset Management S.A. increased its position in Truist Financial by 342.2% during the third quarter. Assenagon Asset Management S.A. now owns 2,526,939 shares of the insurance provider’s stock worth $72,296,000 after buying an additional 1,955,448 shares during the last quarter. Jennison Associates LLC increased its position in Truist Financial by 45.1% during the third quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock worth $105,102,000 after buying an additional 1,141,944 shares during the last quarter. International Assets Investment Management LLC increased its position in Truist Financial by 3,359.6% during the fourth quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock worth $38,602,000 after buying an additional 1,015,338 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Truist Financial by 1,155.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,054,500 shares of the insurance provider’s stock worth $30,169,000 after acquiring an additional 970,500 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the transaction, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TFC. StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. Raymond James boosted their price target on Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. HSBC boosted their price target on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Wells Fargo & Company upped their target price on Truist Financial from $39.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Finally, UBS Group upped their target price on Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.97.

Truist Financial Trading Down 2.3 %

NYSE TFC traded down $0.91 on Thursday, reaching $37.88. The company had a trading volume of 1,046,598 shares, compared to its average volume of 9,581,867. The firm has a market cap of $50.55 billion, a price-to-earnings ratio of -29.39, a P/E/G ratio of 2.45 and a beta of 1.08. Truist Financial Co. has a fifty-two week low of $25.56 and a fifty-two week high of $39.29. The business has a 50 day moving average of $36.83 and a two-hundred day moving average of $34.73. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.82 and a quick ratio of 0.82.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 earnings per share. Analysts forecast that Truist Financial Co. will post 3.26 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.49%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

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.