Truist Financial Co. (NYSE:TFC) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its holdings in Truist Financial Co. (NYSE:TFC) by 1.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 92,024 shares of the insurance provider’s stock after selling 1,268 shares during the quarter. Kentucky Retirement Systems’ holdings in Truist Financial were worth $3,992,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its stake in Truist Financial by 4.6% in the third quarter. State Street Corp now owns 61,864,957 shares of the insurance provider’s stock valued at $2,645,964,000 after purchasing an additional 2,720,223 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Truist Financial by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 27,440,951 shares of the insurance provider’s stock valued at $1,169,350,000 after buying an additional 456,412 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Truist Financial by 3.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,431,037 shares of the insurance provider’s stock valued at $403,365,000 after buying an additional 288,306 shares during the last quarter. FMR LLC raised its stake in Truist Financial by 10.6% during the 3rd quarter. FMR LLC now owns 5,003,106 shares of the insurance provider’s stock worth $213,983,000 after acquiring an additional 478,886 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in Truist Financial by 26.1% in the third quarter. HighTower Advisors LLC now owns 3,901,891 shares of the insurance provider’s stock valued at $166,892,000 after acquiring an additional 807,648 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Buying and Selling

In related news, CEO William H. Rogers, Jr. purchased 34,180 shares of Truist Financial stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the transaction, the chief executive officer now owns 691,451 shares in the company, valued at approximately $33,576,860.56. The trade was a 5.20 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the sale, the director now owns 11,246 shares in the company, valued at approximately $519,565.20. This represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Stephens raised their price objective on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. The Goldman Sachs Group lifted their price target on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Morgan Stanley boosted their price objective on Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Piper Sandler raised their target price on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company upped their price target on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

Truist Financial Stock Performance

NYSE TFC opened at $45.67 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $45.61 and its two-hundred day moving average is $44.47. The stock has a market capitalization of $60.62 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.66 and a beta of 1.08. Truist Financial Co. has a 12-month low of $34.26 and a 12-month high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the prior year, the company posted $0.81 earnings per share. Truist Financial’s quarterly revenue was up 3.4% on a year-over-year basis. Research analysts expect that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is 62.46%.

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.