Mn Services Vermogensbeheer B.V. Raises Stock Holdings in Truist Financial Co. (NYSE:TFC)

Mn Services Vermogensbeheer B.V. increased its holdings in shares of Truist Financial Co. (NYSE:TFC) by 2.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 524,300 shares of the insurance provider’s stock after acquiring an additional 10,200 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Truist Financial were worth $22,744,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TFC. Nwam LLC lifted its holdings in Truist Financial by 3.2% during the 4th quarter. Nwam LLC now owns 8,395 shares of the insurance provider’s stock valued at $364,000 after buying an additional 263 shares in the last quarter. Heritage Investors Management Corp lifted its stake in Truist Financial by 7.3% during the 4th quarter. Heritage Investors Management Corp now owns 11,775 shares of the insurance provider’s stock valued at $511,000 after acquiring an additional 800 shares during the period. Whipplewood Advisors LLC acquired a new position in Truist Financial during the fourth quarter valued at $323,000. Simmons Bank boosted its holdings in Truist Financial by 30.2% in the fourth quarter. Simmons Bank now owns 56,334 shares of the insurance provider’s stock valued at $2,444,000 after purchasing an additional 13,067 shares during the last quarter. Finally, Checchi Capital Advisers LLC grew its position in Truist Financial by 3.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 13,006 shares of the insurance provider’s stock worth $564,000 after purchasing an additional 424 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the transaction, the director now owns 11,246 shares of the company’s stock, valued at approximately $519,565.20. The trade was a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.17% of the stock is owned by corporate insiders.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $45.75 on Friday. The stock has a market capitalization of $60.73 billion, a P/E ratio of 13.74, a PEG ratio of 1.63 and a beta of 1.08. The business has a 50 day simple moving average of $45.72 and a two-hundred day simple moving average of $44.58. Truist Financial Co. has a 12 month low of $34.51 and a 12 month high of $49.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the company earned $0.81 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. As a group, analysts predict that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.55%. Truist Financial’s payout ratio is presently 62.46%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TFC shares. Morgan Stanley upped their target price on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Raymond James upped their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group lifted their target price on shares of Truist Financial from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. HSBC raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, January 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.79.

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.