Kentucky Retirement Systems Insurance Trust Fund Has $1.72 Million Position in Truist Financial Co. (NYSE:TFC)

Kentucky Retirement Systems Insurance Trust Fund lowered its holdings in Truist Financial Co. (NYSE:TFC) by 7.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 44,015 shares of the insurance provider’s stock after selling 3,498 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Truist Financial were worth $1,716,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Crewe Advisors LLC acquired a new position in Truist Financial in the first quarter worth $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Truist Financial during the first quarter worth $29,000. Rise Advisors LLC bought a new stake in shares of Truist Financial during the first quarter worth $32,000. Missouri Trust & Investment Co raised its position in shares of Truist Financial by 227.2% during the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 593 shares during the last quarter. Finally, Northwest Financial Advisors bought a new stake in shares of Truist Financial during the fourth quarter worth $34,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analysts Set New Price Targets

TFC has been the subject of a number of recent research reports. Royal Bank of Canada boosted their target price on Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Citigroup downgraded Truist Financial from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $45.00 to $47.00 in a research report on Wednesday. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price for the company. in a research report on Wednesday, July 17th. Baird R W downgraded Truist Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Morgan Stanley upped their price objective on Truist Financial from $44.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $45.05.

Truist Financial Stock Up 0.7 %

Shares of TFC stock traded up $0.30 on Friday, hitting $44.42. 7,274,609 shares of the stock were exchanged, compared to its average volume of 7,258,491. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $59.44 billion, a P/E ratio of -33.65, a price-to-earnings-growth ratio of 2.07 and a beta of 1.07. The business has a 50-day moving average of $38.81 and a 200 day moving average of $37.75. Truist Financial Co. has a fifty-two week low of $26.57 and a fifty-two week high of $44.78.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.07. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. Truist Financial’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.95 earnings per share. Equities analysts anticipate that Truist Financial Co. will post 3.57 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 4.68%. Truist Financial’s dividend payout ratio is -157.58%.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 57,300 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were purchased at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the purchase, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.17% of the company’s stock.

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.