ASR Vermogensbeheer N.V. Increases Stake in Truist Financial Corporation $TFC

ASR Vermogensbeheer N.V. boosted its stake in Truist Financial Corporation (NYSE:TFC) by 4.8% during the second quarter, Holdings Channel.com reports. The firm owned 106,783 shares of the insurance provider’s stock after buying an additional 4,901 shares during the period. ASR Vermogensbeheer N.V.’s holdings in Truist Financial were worth $4,590,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Wealth Preservation Advisors LLC purchased a new position in shares of Truist Financial in the first quarter valued at about $25,000. Centennial Bank AR increased its position in shares of Truist Financial by 360.2% in the first quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 580 shares during the period. Motco increased its holdings in Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 649 shares during the period. Meeder Asset Management Inc. increased its holdings in Truist Financial by 115.3% during the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 468 shares during the period. Finally, Sierra Ocean LLC increased its holdings in Truist Financial by 64.4% during the 1st quarter. Sierra Ocean LLC now owns 899 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 352 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total value of $566,682.60. Following the sale, the insider directly owned 500 shares of the company’s stock, valued at approximately $22,595. This represents a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TFC shares. Keefe, Bruyette & Woods cut Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 target price on the stock. in a research note on Wednesday, July 9th. Citigroup raised shares of Truist Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $44.00 to $55.00 in a research report on Thursday, June 26th. Raymond James Financial raised shares of Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Tuesday, July 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Truist Financial in a research report on Saturday, September 27th. Finally, Morgan Stanley boosted their price target on shares of Truist Financial from $48.00 to $54.00 and gave the company an “equal weight” rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.89.

Truist Financial Stock Up 0.4%

NYSE:TFC opened at $45.53 on Friday. The company has a market capitalization of $58.71 billion, a PE ratio of 12.41, a P/E/G ratio of 1.45 and a beta of 0.88. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.86 and a quick ratio of 0.86. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $49.06. The firm’s 50-day moving average price is $45.15 and its 200-day moving average price is $42.07.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The business had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.Truist Financial’s revenue for the quarter was down 406.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 EPS. On average, equities analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Friday, August 8th. Truist Financial’s dividend payout ratio is currently 56.68%.

About Truist Financial

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.