Tokio Marine Asset Management Co. Ltd. Acquires 1,208 Shares of Truist Financial Co. (NYSE:TFC)

Tokio Marine Asset Management Co. Ltd. increased its position in shares of Truist Financial Co. (NYSE:TFC) by 3.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,844 shares of the insurance provider’s stock after purchasing an additional 1,208 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Truist Financial were worth $1,598,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TFC. AMF Tjanstepension AB purchased a new position in Truist Financial during the third quarter valued at $3,208,000. Czech National Bank boosted its stake in shares of Truist Financial by 7.0% during the 3rd quarter. Czech National Bank now owns 272,797 shares of the insurance provider’s stock worth $11,668,000 after purchasing an additional 17,811 shares during the period. Handelsbanken Fonder AB boosted its stake in shares of Truist Financial by 0.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 279,139 shares of the insurance provider’s stock worth $11,939,000 after purchasing an additional 1,591 shares during the period. GAMMA Investing LLC boosted its stake in shares of Truist Financial by 29.7% during the 3rd quarter. GAMMA Investing LLC now owns 24,308 shares of the insurance provider’s stock worth $1,040,000 after purchasing an additional 5,572 shares during the period. Finally, Traveka Wealth LLC bought a new stake in Truist Financial during the 3rd quarter valued at about $244,000. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Trading Down 1.5 %

Shares of TFC opened at $46.92 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $62.29 billion, a P/E ratio of 14.09, a P/E/G ratio of 1.69 and a beta of 1.08. The firm has a 50-day moving average price of $45.55 and a 200 day moving average price of $44.11. Truist Financial Co. has a 12-month low of $34.23 and a 12-month high of $49.06.

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

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s payout ratio is 62.46%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TFC. Stephens lifted their price objective on shares of Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Keefe, Bruyette & Woods boosted their price target on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Wells Fargo & Company boosted their price objective on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Finally, Hsbc Global Res raised shares of Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.79.

Insider Activity at Truist Financial

In related news, CEO William H. Rogers, Jr. acquired 34,180 shares of the business’s stock in a transaction on Monday, November 25th. The shares were bought at an average price 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following 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 position. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.

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.