Public Employees Retirement System of Ohio Sells 10,105 Shares of Truist Financial Corporation $TFC

Public Employees Retirement System of Ohio decreased its holdings in Truist Financial Corporation (NYSE:TFC) by 1.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 519,203 shares of the insurance provider’s stock after selling 10,105 shares during the period. Public Employees Retirement System of Ohio’s holdings in Truist Financial were worth $25,867,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of TFC. BlackRock Inc. acquired a new position in Truist Financial in the 2nd quarter valued at about $4,959,834,000. Pinnacle Financial Partners Inc. lifted its position in shares of Truist Financial by 30.0% during the third quarter. Pinnacle Financial Partners Inc. now owns 174,839 shares of the insurance provider’s stock worth $7,994,000 after purchasing an additional 40,393 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Truist Financial by 531.8% in the first quarter. Fifth Third Bancorp now owns 436,355 shares of the insurance provider’s stock valued at $20,059,000 after purchasing an additional 367,291 shares during the period. Franklin Street Advisors Inc. NC boosted its stake in shares of Truist Financial by 129.1% in the second quarter. Franklin Street Advisors Inc. NC now owns 37,253 shares of the insurance provider’s stock valued at $1,856,000 after purchasing an additional 20,991 shares during the period. Finally, First National Bank of Omaha acquired a new position in shares of Truist Financial in the second quarter valued at approximately $8,078,000. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling at Truist Financial

In related news, insider Donta L. Wilson sold 13,280 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $51.85, for a total transaction of $688,568.00. Following the transaction, the insider owned 56,009 shares of the company’s stock, valued at $2,904,066.65. This trade represents a 19.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO William H. Rogers, Jr. sold 13,250 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $52.36, for a total value of $693,770.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 30,516 shares of company stock worth $1,584,428. 0.15% of the stock is owned by company insiders.

Analysts Set New Price Targets

TFC has been the topic of several recent research reports. Evercore reiterated an “outperform” rating and set a $57.00 target price on shares of Truist Financial in a report on Monday, July 6th. Bank of America restated a “neutral” rating and issued a $56.00 price target (up from $54.00) on shares of Truist Financial in a research note on Wednesday, July 8th. Morgan Stanley reaffirmed an “equal weight” rating and set a $54.00 price objective (down from $62.00) on shares of Truist Financial in a research report on Monday, July 6th. Wall Street Zen upgraded Truist Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, JPMorgan Chase & Co. lifted their target price on Truist Financial from $53.00 to $54.00 and gave the company an “underweight” rating in a report on Wednesday, July 29th. Seven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $55.12.

Truist Financial Stock Up 0.3%

Truist Financial stock opened at $50.46 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Corporation has a fifty-two week low of $40.78 and a fifty-two week high of $56.19. The stock has a 50-day simple moving average of $51.47 and a 200-day simple moving average of $49.68. The company has a market capitalization of $61.64 billion, a P/E ratio of 11.57, a PEG ratio of 1.06 and a beta of 0.89.

Truist Financial (NYSE:TFC) last announced its earnings results on Friday, July 17th. The insurance provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.24 billion. During the same period in the previous year, the company posted $0.91 EPS. The company’s quarterly revenue was up 5.6% on a year-over-year basis. Equities research analysts expect that Truist Financial Corporation will post 4.58 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a $0.52 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. Truist Financial’s payout ratio is currently 47.71%.

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.