Public Employees Retirement System of Ohio Sells 10,105 Shares of Truist Financial Corporation $TFC

Public Employees Retirement System of Ohio lessened its position in Truist Financial Corporation (NYSE:TFC) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 519,203 shares of the insurance provider’s stock after selling 10,105 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Truist Financial were worth $25,867,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Almitas Capital LLC bought a new position in shares of Truist Financial during the 2nd quarter worth approximately $389,000. Proficio Capital Partners LLC bought a new stake in shares of Truist Financial in the second quarter worth $266,000. Pure Financial Advisors LLC lifted its position in shares of Truist Financial by 27.9% in the second quarter. Pure Financial Advisors LLC now owns 5,655 shares of the insurance provider’s stock worth $282,000 after purchasing an additional 1,234 shares in the last quarter. Corient Private Wealth LP boosted its holdings in Truist Financial by 2.2% during the second quarter. Corient Private Wealth LP now owns 235,913 shares of the insurance provider’s stock worth $11,753,000 after purchasing an additional 5,012 shares during the last quarter. Finally, Gallagher Fiduciary Advisors LLC grew its position in Truist Financial by 7.2% in the second quarter. Gallagher Fiduciary Advisors LLC now owns 8,090 shares of the insurance provider’s stock valued at $403,000 after purchasing an additional 544 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

NYSE:TFC opened at $50.46 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.73. Truist Financial Corporation has a 12-month low of $40.78 and a 12-month high of $56.19. The stock’s 50 day moving average price is $51.47 and its two-hundred day moving average price is $49.68. The firm has a market capitalization of $61.64 billion, a price-to-earnings ratio of 11.57, a P/E/G ratio of 1.06 and a beta of 0.89.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.24 billion. During the same quarter in the prior year, the business earned $0.91 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, analysts anticipate that Truist Financial Corporation will post 4.58 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, August 14th. Truist Financial’s dividend payout ratio (DPR) is currently 47.71%.

Insider Buying and Selling

In other news, CEO William H. Rogers, Jr. sold 13,250 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $52.36, for a total transaction of $693,770.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director K. David Jr. Boyer sold 3,986 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $50.70, for a total value of $202,090.20. Following the sale, the director owned 10,270 shares of the company’s stock, valued at approximately $520,689. This represents a 27.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 30,516 shares of company stock valued at $1,584,428. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

TFC has been the topic of several analyst reports. Morgan Stanley reissued an “equal weight” rating and set a $54.00 price target (down from $62.00) on shares of Truist Financial in a research report on Monday, July 6th. Bank of America reissued a “neutral” rating and set a $56.00 price target (up from $54.00) on shares of Truist Financial in a research report on Wednesday, July 8th. Evercore restated an “outperform” rating and issued a $57.00 price target on shares of Truist Financial in a research note on Monday, July 6th. UBS Group lowered Truist Financial from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $58.00 to $55.00 in a research report on Tuesday, July 7th. Finally, Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Truist Financial presently has a consensus rating of “Hold” and a consensus target price of $55.12.

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.