BI Asset Management Fondsmaeglerselskab A S Sells 22,642 Shares of Truist Financial Corporation $TFC

BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 40.1% during the first quarter, Holdings Channel reports. The fund owned 33,876 shares of the insurance provider’s stock after selling 22,642 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Truist Financial were worth $1,557,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new position in Truist Financial in the 4th quarter valued at about $25,000. Swiss RE Ltd. bought a new stake in shares of Truist Financial during the fourth quarter worth approximately $26,000. McMillan Office Inc. acquired a new position in shares of Truist Financial in the fourth quarter valued at approximately $31,000. Maseco LLP grew its holdings in Truist Financial by 53.8% in the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after buying an additional 228 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC increased its position in Truist Financial by 190.7% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after buying an additional 431 shares during the period. Institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Performance

NYSE:TFC opened at $49.81 on Thursday. The company has a fifty day moving average of $49.13 and a 200-day moving average of $49.31. Truist Financial Corporation has a twelve month low of $40.78 and a twelve month high of $56.19. The firm has a market capitalization of $62.06 billion, a P/E ratio of 12.36, a P/E/G ratio of 0.85 and a beta of 0.89. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (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%.Truist Financial’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business earned $0.87 EPS. As a group, sell-side analysts anticipate that Truist Financial Corporation will post 4.5 EPS for the current year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, May 8th. Truist Financial’s dividend payout ratio is currently 51.61%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Morgan Stanley decreased their target price on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a report on Monday, April 20th. Stephens assumed coverage on Truist Financial in a research report on Monday, June 15th. They set an “overweight” rating and a $59.00 target price for the company. Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a report on Sunday. Robert W. Baird cut Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target for the company. in a research note on Friday, May 1st. Finally, Weiss Ratings upgraded Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Ten investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.79.

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.