Fjarde AP Fonden Fourth Swedish National Pension Fund Trims Stock Holdings in Truist Financial Corporation $TFC

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its holdings in Truist Financial Corporation (NYSE:TFC) by 4.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 209,198 shares of the insurance provider’s stock after selling 10,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Truist Financial were worth $10,295,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. 3Chopt Investment Partners LLC raised its stake in Truist Financial by 1.3% in the 4th quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock worth $724,000 after acquiring an additional 193 shares during the last quarter. IFP Advisors Inc raised its stake in Truist Financial by 2.4% in the 4th quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock worth $404,000 after acquiring an additional 194 shares during the last quarter. AlphaCore Capital LLC raised its stake in Truist Financial by 8.3% in the 4th quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock worth $128,000 after acquiring an additional 199 shares during the last quarter. CYBER HORNET ETFs LLC raised its stake in Truist Financial by 5.5% in the 4th quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock worth $188,000 after acquiring an additional 199 shares during the last quarter. Finally, Alliance Wealth Advisors LLC raised its stake in shares of Truist Financial by 1.8% during the 4th quarter. Alliance Wealth Advisors LLC now owns 11,298 shares of the insurance provider’s stock valued at $556,000 after buying an additional 205 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wall Street Zen upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. JPMorgan Chase & Co. reduced their price objective on Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research note on Friday, May 1st. Morgan Stanley reduced their price objective on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, April 20th. Finally, Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.59.

Truist Financial Stock Up 0.1%

NYSE:TFC opened at $49.24 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The stock’s fifty day moving average is $48.63 and its two-hundred day moving average is $48.97. Truist Financial Corporation has a 52 week low of $38.83 and a 52 week high of $56.19. The stock has a market capitalization of $61.35 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 0.84 and a beta of 0.89.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The firm’s revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 earnings per share. Research analysts anticipate that Truist Financial Corporation will post 4.52 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Friday, May 8th. Truist Financial’s dividend payout ratio (DPR) is presently 51.61%.

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.