Truist Financial Corporation $TFC Shares Sold by Danica Pension Livsforsikringsaktieselskab

Danica Pension Livsforsikringsaktieselskab lessened its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 87.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,301 shares of the insurance provider’s stock after selling 176,769 shares during the period. Danica Pension Livsforsikringsaktieselskab’s holdings in Truist Financial were worth $1,163,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Kemnay Advisory Services Inc. acquired a new stake in shares of Truist Financial in the 4th quarter worth approximately $25,000. Swiss RE Ltd. acquired a new position in shares of Truist Financial in the 4th quarter worth $26,000. McMillan Office Inc. acquired a new stake in Truist Financial during the 4th quarter worth about $31,000. Maseco LLP raised its holdings in shares of Truist Financial by 53.8% during the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 228 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its holdings in shares of Truist Financial by 190.7% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 431 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Up 0.7%

TFC opened at $51.73 on Thursday. Truist Financial Corporation has a twelve month low of $40.78 and a twelve month high of $56.19. The firm’s 50-day simple moving average is $49.63 and its 200-day simple moving average is $49.54. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $64.45 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 0.94 and a beta of 0.89.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.15. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.24 billion. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.Truist Financial’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.91 EPS. Equities research analysts anticipate that Truist Financial Corporation will post 4.57 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, May 8th. Truist Financial’s dividend payout ratio is 47.71%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TFC shares. Keefe, Bruyette & Woods increased their price target on shares of Truist Financial from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Monday. Bank of America reissued a “neutral” rating and set a $56.00 price objective (up from $54.00) on shares of Truist Financial in a report on Wednesday, July 8th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $53.00 target price (down from $53.50) on shares of Truist Financial in a research report on Monday. Citigroup cut Truist Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $63.00 to $54.00 in a research report on Tuesday, June 30th. Finally, Weiss Ratings raised Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Seven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $54.61.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.