Truist Financial Corporation $TFC Shares Sold by Danica Pension Livsforsikringsaktieselskab

Danica Pension Livsforsikringsaktieselskab reduced its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 87.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,301 shares of the insurance provider’s stock after selling 176,769 shares during the period. Danica Pension Livsforsikringsaktieselskab’s holdings in Truist Financial were worth $1,163,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TFC. Auto Owners Insurance Co increased its stake in shares of Truist Financial by 4,821.0% during the fourth quarter. Auto Owners Insurance Co now owns 14,172,480 shares of the insurance provider’s stock worth $697,428,000 after buying an additional 13,884,480 shares during the period. Wellington Management Group LLP raised its stake in Truist Financial by 13,511.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider’s stock worth $474,886,000 after acquiring an additional 10,310,523 shares in the last quarter. Norges Bank purchased a new stake in shares of Truist Financial in the 4th quarter valued at about $502,340,000. American Assets Investment Management LLC lifted its stake in Truist Financial by 781.2% in the fourth quarter. American Assets Investment Management LLC now owns 3,384,000 shares of the insurance provider’s stock valued at $166,527,000 after buying an additional 3,000,000 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Truist Financial by 37.6% in the 4th quarter. Bank of New York Mellon Corp now owns 10,500,542 shares of the insurance provider’s stock valued at $516,732,000 after purchasing an additional 2,867,449 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wall Street Zen cut Truist Financial from a “hold” rating to a “sell” rating in a research report on Monday, June 29th. Jefferies Financial Group reissued a “mixed” rating and set a $45.00 price objective on shares of Truist Financial in a report on Friday, April 17th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $53.00 target price (down from $53.50) on shares of Truist Financial in a report on Monday. Royal Bank Of Canada raised their price objective on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Finally, Weiss Ratings raised shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Seven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Truist Financial presently has a consensus rating of “Hold” and a consensus price target of $54.61.

Truist Financial Stock Up 0.7%

Shares of NYSE:TFC opened at $51.73 on Thursday. Truist Financial Corporation has a 1 year low of $40.78 and a 1 year high of $56.19. The stock has a market capitalization of $64.45 billion, a P/E ratio of 11.86, a PEG ratio of 0.94 and a beta of 0.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a 50-day simple moving average of $49.63 and a 200-day simple moving average of $49.54.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.08 by $0.15. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.24 billion. During the same period last year, the company posted $0.91 earnings per share. The firm’s revenue was up 5.6% compared to the same quarter last year. Equities analysts forecast that Truist Financial Corporation will post 4.57 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Friday, May 8th. Truist Financial’s dividend payout ratio is 47.71%.

Truist Financial Company Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.