Truist Financial Corporation $TFC Holdings Raised by National Pension Service

National Pension Service lifted its position in shares of Truist Financial Corporation (NYSE:TFC) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,426,158 shares of the insurance provider’s stock after acquiring an additional 25,416 shares during the period. National Pension Service owned about 0.28% of Truist Financial worth $170,691,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Capital International Investors boosted its holdings in shares of Truist Financial by 0.7% in the 4th quarter. Capital International Investors now owns 108,358,164 shares of the insurance provider’s stock valued at $5,332,835,000 after buying an additional 715,433 shares during the period. BlackRock Inc. acquired a new stake in Truist Financial during the second quarter worth about $4,959,834,000. California State Teachers Retirement System raised its stake in Truist Financial by 4,694.8% during the second quarter. California State Teachers Retirement System now owns 97,097,187 shares of the insurance provider’s stock worth $4,837,382,000 after acquiring an additional 95,072,155 shares during the period. Victory Capital Management Inc. lifted its holdings in Truist Financial by 7.5% in the fourth quarter. Victory Capital Management Inc. now owns 31,964,393 shares of the insurance provider’s stock worth $1,572,968,000 after acquiring an additional 2,226,288 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in Truist Financial by 2.9% in the fourth quarter. Morgan Stanley now owns 20,931,279 shares of the insurance provider’s stock worth $1,030,028,000 after acquiring an additional 597,255 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Insiders Place Their Bets

In related news, insider Dontá Wilson sold 13,280 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $51.85, for a total value of $688,568.00. Following the completion of the sale, the insider owned 56,009 shares of the company’s stock, valued at $2,904,066.65. This represents a 19.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William H. Rogers, Jr. sold 13,250 shares of the stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $52.36, for a total transaction of $693,770.00. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 30,516 shares of company stock worth $1,584,428. 0.15% of the stock is owned by company insiders.

Truist Financial Price Performance

NYSE TFC opened at $50.31 on Friday. Truist Financial Corporation has a 52 week low of $40.78 and a 52 week high of $56.19. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.73. The stock has a market cap of $61.46 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 1.05 and a beta of 0.88. The company has a 50-day moving average price of $51.56 and a two-hundred day moving average price of $49.51.

Truist Financial (NYSE:TFC) last released 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 company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.24 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. Analysts forecast that Truist Financial Corporation will post 4.58 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Friday, August 14th. Truist Financial’s payout ratio is 47.71%.

Wall Street Analysts Forecast Growth

TFC has been the subject of several recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Truist Financial in a report on Wednesday, July 29th. JPMorgan Chase & Co. raised their price target on Truist Financial from $53.00 to $54.00 and gave the stock an “underweight” rating in a report on Wednesday, July 29th. Raymond James Financial restated a “market perform” rating on shares of Truist Financial in a research report on Wednesday, July 1st. Robert W. Baird upped their price objective on Truist Financial from $55.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Finally, Keefe, Bruyette & Woods upped their price objective on Truist Financial from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Monday, July 20th. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Truist Financial has an average rating of “Hold” and an average target price of $55.12.

Truist Financial Profile

Truist Financial Corporation (NYSE:TFC) is a financial services company formed through the 2019 merger of BB&T Corporation and SunTrust Banks. Headquartered in Charlotte, North Carolina, Truist operates as a major commercial bank serving consumers, businesses, and institutions primarily across the United States.

Through its consumer and business banking operations, Truist provides checking and savings accounts, credit cards, mortgages, home equity lending, personal loans, commercial lending, treasury management, and payment services.