Livforsakringsbolaget Skandia Omsesidigt Purchases 1,133 Shares of Truist Financial Co. (NYSE:TFC)

Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Truist Financial Co. (NYSE:TFC) by 63.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,925 shares of the insurance provider’s stock after buying an additional 1,133 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Truist Financial were worth $108,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Truist Financial by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock worth $3,355,141,000 after buying an additional 365,871 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Truist Financial by 1.4% during the 1st quarter. Geode Capital Management LLC now owns 23,931,465 shares of the insurance provider’s stock worth $814,557,000 after buying an additional 332,642 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in shares of Truist Financial by 12,034.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock worth $881,700,000 after buying an additional 20,321,500 shares during the last quarter. Morgan Stanley lifted its stake in shares of Truist Financial by 32.6% during the 4th quarter. Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock worth $667,443,000 after buying an additional 3,813,439 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Truist Financial by 5.0% during the 3rd quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock worth $440,162,000 after buying an additional 732,801 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Up 0.1 %

Shares of Truist Financial stock opened at $35.71 on Friday. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $39.29. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $47.66 billion, a PE ratio of -33.06, a price-to-earnings-growth ratio of 2.20 and a beta of 1.08. The firm’s 50 day moving average is $36.62 and its 200 day moving average is $34.37.

Truist Financial (NYSE:TFC) last posted its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the previous year, the firm posted $1.30 EPS. Equities research analysts forecast that Truist Financial Co. will post 3.33 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date was Thursday, February 8th. Truist Financial’s payout ratio is -192.59%.

Insiders Place Their Bets

In other news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were 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 approximately $604,627.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TFC. Bank of America upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Thursday, January 4th. Barclays lifted their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. HSBC lifted their price objective on shares of Truist Financial from $37.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods boosted their target price on shares of Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Finally, UBS Group boosted their target price on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Truist Financial presently has a consensus rating of “Hold” and an average target price of $41.47.

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.