Fjarde AP Fonden Fourth Swedish National Pension Fund Reduces Holdings in Truist Financial Co. (NYSE:TFC)

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in shares of Truist Financial Co. (NYSE:TFC) by 19.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 226,798 shares of the insurance provider’s stock after selling 55,756 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Truist Financial were worth $9,838,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. AMF Tjanstepension AB purchased a new stake in shares of Truist Financial during the third quarter worth about $3,208,000. Allspring Global Investments Holdings LLC increased its holdings in Truist Financial by 8.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 77,332 shares of the insurance provider’s stock worth $3,307,000 after purchasing an additional 5,786 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Truist Financial by 6.3% in the 3rd quarter. Private Advisor Group LLC now owns 79,474 shares of the insurance provider’s stock valued at $3,399,000 after purchasing an additional 4,718 shares in the last quarter. Silver Oak Securities Incorporated boosted its stake in shares of Truist Financial by 18.2% during the 3rd quarter. Silver Oak Securities Incorporated now owns 13,170 shares of the insurance provider’s stock valued at $560,000 after buying an additional 2,030 shares during the last quarter. Finally, Ballentine Partners LLC grew its position in shares of Truist Financial by 7.0% during the third quarter. Ballentine Partners LLC now owns 26,386 shares of the insurance provider’s stock worth $1,129,000 after buying an additional 1,737 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director K. David Jr. Boyer sold 4,966 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the transaction, the director now owns 11,246 shares in the company, valued at $519,565.20. This represents a 30.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Truist Financial Stock Performance

Shares of TFC opened at $45.67 on Monday. The company has a 50-day moving average of $45.61 and a two-hundred day moving average of $44.52. The stock has a market cap of $60.62 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a one year low of $34.26 and a one year high of $49.06.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion for 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%. Truist Financial’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 earnings per share. On average, equities research analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 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 4.55%. The ex-dividend date is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Wells Fargo & Company increased their price target on shares of Truist Financial from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Piper Sandler increased their target price on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley boosted their price target on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

Truist Financial Company 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.