National Pension Service Sells 455,477 Shares of Truist Financial Co. (NYSE:TFC)

National Pension Service lessened its stake in shares of Truist Financial Co. (NYSE:TFC) by 13.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,946,041 shares of the insurance provider’s stock after selling 455,477 shares during the quarter. National Pension Service owned approximately 0.22% of Truist Financial worth $127,799,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of TFC. AMF Tjanstepension AB bought a new stake in Truist Financial during the 3rd quarter valued at $3,208,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Truist Financial by 14.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,949 shares of the insurance provider’s stock worth $4,377,000 after purchasing an additional 13,018 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in shares of Truist Financial in the 3rd quarter worth $397,000. abrdn plc boosted its position in shares of Truist Financial by 4.3% in the 3rd quarter. abrdn plc now owns 1,184,313 shares of the insurance provider’s stock worth $50,452,000 after purchasing an additional 49,157 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its position in shares of Truist Financial by 376.7% in the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 678 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling at Truist Financial

In other news, Director K. David Jr. Boyer sold 4,966 shares of the firm’s stock in a transaction dated 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 $519,565.20. This trade represents a 30.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.17% of the company’s stock.

Truist Financial Stock Performance

NYSE TFC opened at $45.26 on Thursday. The stock has a 50-day simple moving average of $45.65 and a two-hundred day simple moving average of $44.57. The firm has a market capitalization of $60.08 billion, a P/E ratio of 13.59, a PEG ratio of 1.63 and a beta of 1.08. Truist Financial Co. has a fifty-two week low of $34.51 and a fifty-two week high of $49.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83.

Truist Financial (NYSE:TFC) last released 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 business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. On average, equities analysts forecast that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.60%. Truist Financial’s payout ratio is currently 62.46%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TFC. Raymond James raised their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Citigroup raised their price objective on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Keefe, Bruyette & Woods raised their price objective on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Morgan Stanley raised their price objective on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Finally, The Goldman Sachs Group raised their price objective on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus 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.