Truist Financial Co. (NYSE:TFC) Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System boosted its position in Truist Financial Co. (NYSE:TFC) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,233 shares of the insurance provider’s stock after buying an additional 1,932 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Truist Financial were worth $3,811,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TFC. Vanguard Group Inc. lifted its stake in Truist Financial by 0.3% during the third quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock worth $3,355,141,000 after purchasing an additional 365,871 shares during the last quarter. Royal Bank of Canada raised its position 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 purchasing an additional 732,801 shares during the period. Morgan Stanley boosted its position in Truist Financial by 0.3% during the 3rd quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock valued at $439,568,000 after purchasing an additional 39,510 shares during the period. Truist Financial Corp grew its stake in Truist Financial by 0.5% during the 3rd quarter. Truist Financial Corp now owns 5,197,904 shares of the insurance provider’s stock worth $148,712,000 after buying an additional 26,972 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in Truist Financial by 45.1% in the third quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock valued at $105,102,000 after buying an additional 1,141,944 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling

In other news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction that occurred 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 transaction, the director now 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 the SEC website. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Stock Down 0.9 %

TFC stock traded down $0.34 during mid-day trading on Tuesday, hitting $39.08. The stock had a trading volume of 8,026,627 shares, compared to its average volume of 9,429,605. The stock has a market capitalization of $52.16 billion, a price-to-earnings ratio of -29.64, a PEG ratio of 2.03 and a beta of 1.07. The company has a fifty day moving average of $37.25 and a 200 day moving average of $35.30. Truist Financial Co. has a 1-year low of $26.49 and a 1-year high of $40.35. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC) last posted its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.12. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the company earned $1.09 earnings per share. The company’s revenue was down 8.8% compared to the same quarter last year. On average, equities analysts expect that Truist Financial Co. will post 3.3 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors 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 5.32%. The ex-dividend date is Thursday, May 9th. Truist Financial’s payout ratio is -157.58%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective 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. TheStreet lowered Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Wells Fargo & Company increased their price target on Truist Financial from $39.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Royal Bank of Canada boosted their price objective on Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.88.

Truist Financial 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.