Livforsakringsbolaget Skandia Omsesidigt Increases Holdings in Truist Financial Co. (NYSE:TFC)

Livforsakringsbolaget Skandia Omsesidigt lifted its position in Truist Financial Co. (NYSE:TFC) by 63.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,925 shares of the insurance provider’s stock after purchasing an additional 1,133 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Truist Financial were worth $108,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. EPG Wealth Management LLC raised its stake in shares of Truist Financial by 1.8% in the fourth quarter. EPG Wealth Management LLC now owns 12,219 shares of the insurance provider’s stock worth $526,000 after purchasing an additional 213 shares during the last quarter. Williams Jones Wealth Management LLC. lifted its holdings in Truist Financial by 5.8% in the first quarter. Williams Jones Wealth Management LLC. now owns 4,850 shares of the insurance provider’s stock valued at $275,000 after acquiring an additional 268 shares during the period. Financial Advocates Investment Management lifted its holdings in Truist Financial by 3.5% in the fourth quarter. Financial Advocates Investment Management now owns 9,071 shares of the insurance provider’s stock valued at $390,000 after acquiring an additional 306 shares during the period. Day & Ennis LLC lifted its holdings in Truist Financial by 4.3% in the fourth quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock valued at $278,000 after acquiring an additional 311 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in Truist Financial by 32.0% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,333 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 323 shares during the period. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares in the company, valued at approximately $604,627.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.17% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TFC shares. Jefferies Financial Group boosted their price target on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Monday, April 8th. Stephens raised Truist Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $41.00 to $43.00 in a report on Tuesday, March 19th. Keefe, Bruyette & Woods boosted their price objective on Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. UBS Group boosted their price objective on Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Finally, StockNews.com cut Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $41.47.

Truist Financial Stock Up 0.1 %

Shares of TFC opened at $35.71 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial Co. has a one year low of $25.56 and a one year high of $39.29. The stock has a market capitalization of $47.66 billion, a price-to-earnings ratio of -33.06, a PEG ratio of 2.20 and a beta of 1.08. The stock has a 50 day moving average price of $36.62 and a 200 day moving average price of $34.37.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.13. The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. During the same period in the prior year, the business earned $1.30 EPS. Equities research analysts forecast that Truist Financial Co. will post 3.33 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.82%. The ex-dividend date was Thursday, February 8th. Truist Financial’s payout ratio is currently -192.59%.

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.