Handelsbanken Fonder AB Acquires 14,568 Shares of Truist Financial Co. (NYSE:TFC)

Handelsbanken Fonder AB lifted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 374,623 shares of the insurance provider’s stock after purchasing an additional 14,568 shares during the period. Handelsbanken Fonder AB’s holdings in Truist Financial were worth $13,831,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bleakley Financial Group LLC raised its stake in Truist Financial by 6.1% in the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock valued at $1,104,000 after acquiring an additional 1,731 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Truist Financial by 53.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock valued at $12,515,000 after acquiring an additional 117,524 shares during the period. International Assets Investment Management LLC raised its stake in Truist Financial by 3,359.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock valued at $38,602,000 after acquiring an additional 1,015,338 shares during the period. Loudon Investment Management LLC grew its holdings in Truist Financial by 18.5% during the 3rd quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock valued at $3,759,000 after buying an additional 20,490 shares in the last quarter. Finally, Pathstone Family Office LLC grew its holdings in Truist Financial by 84.8% during the 3rd quarter. Pathstone Family Office LLC now owns 97,317 shares of the insurance provider’s stock valued at $2,786,000 after buying an additional 44,659 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Insider Transactions at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now directly owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.17% of the company’s stock.

Truist Financial Trading Up 2.1 %

Shares of Truist Financial stock opened at $38.85 on Wednesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The business has a 50 day moving average of $36.76 and a 200 day moving average of $34.70. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $39.29.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.12. The company had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 earnings per share. On average, equities research analysts predict that Truist Financial Co. will post 3.27 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.35%. Truist Financial’s dividend payout ratio is currently -157.58%.

Analysts Set New Price Targets

A number of research analysts have weighed in on TFC shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 target price on shares of Truist Financial in a report on Monday. Piper Sandler lifted their target price on Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, January 19th. Stephens reaffirmed an “overweight” rating and set a $43.00 target price on shares of Truist Financial in a report on Tuesday. Bank of America raised Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 target price for the company in a report on Thursday, January 4th. Finally, Compass Point raised Truist Financial from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $34.00 to $42.00 in a report on Tuesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.59.

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.