Forsta AP Fonden Sells 1,000 Shares of Truist Financial Co. (NYSE:TFC)

Forsta AP Fonden lessened its stake in shares of Truist Financial Co. (NYSE:TFC) by 0.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 288,400 shares of the insurance provider’s stock after selling 1,000 shares during the period. Forsta AP Fonden’s holdings in Truist Financial were worth $12,511,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BSW Wealth Partners raised its stake in shares of Truist Financial by 6.6% during the fourth quarter. BSW Wealth Partners now owns 11,047 shares of the insurance provider’s stock valued at $479,000 after acquiring an additional 682 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Truist Financial by 5.0% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 15,824 shares of the insurance provider’s stock valued at $686,000 after acquiring an additional 750 shares in the last quarter. Stonegate Investment Group LLC raised its stake in shares of Truist Financial by 30.7% during the fourth quarter. Stonegate Investment Group LLC now owns 6,277 shares of the insurance provider’s stock valued at $272,000 after acquiring an additional 1,473 shares in the last quarter. Perigon Wealth Management LLC raised its stake in shares of Truist Financial by 18.1% during the fourth quarter. Perigon Wealth Management LLC now owns 10,836 shares of the insurance provider’s stock valued at $487,000 after acquiring an additional 1,661 shares in the last quarter. Finally, Diamant Asset Management Inc. raised its stake in shares of Truist Financial by 9.3% during the fourth quarter. Diamant Asset Management Inc. now owns 39,821 shares of the insurance provider’s stock valued at $1,727,000 after acquiring an additional 3,390 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Insider Activity

In other Truist Financial news, CEO William H. Rogers, Jr. purchased 34,180 shares of the stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $48.56 per share, with a total value of $1,659,780.80. Following the completion of the acquisition, the chief executive officer now owns 691,451 shares in the company, valued at $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Price Performance

NYSE TFC opened at $47.44 on Thursday. The firm’s fifty day simple moving average is $45.51 and its two-hundred day simple moving average is $44.00. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06. The firm has a market capitalization of $62.98 billion, a P/E ratio of 14.25, a P/E/G ratio of 1.67 and a beta of 1.08.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.81 earnings per share. Analysts forecast that Truist Financial Co. will post 3.95 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Analyst Ratings Changes

Several analysts have recently weighed in on TFC shares. The Goldman Sachs Group lifted their price target on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. boosted their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Piper Sandler boosted their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, UBS Group boosted their price objective on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Truist Financial currently has an average rating of “Moderate Buy” and an average target price of $50.79.

Truist Financial 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.