Truist Financial Co. (NYSE:TFC) Shares Bought by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co boosted its position in shares of Truist Financial Co. (NYSE:TFC) by 65.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 114,103 shares of the insurance provider’s stock after acquiring an additional 45,064 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Truist Financial were worth $4,433,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parnassus Investments LLC acquired a new position in Truist Financial during the 4th quarter worth approximately $95,049,000. Rafferty Asset Management LLC lifted its position in shares of Truist Financial by 47.7% during the 4th quarter. Rafferty Asset Management LLC now owns 1,185,259 shares of the insurance provider’s stock worth $43,760,000 after buying an additional 382,976 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Truist Financial by 4.1% during the 4th quarter. Treasurer of the State of North Carolina now owns 624,320 shares of the insurance provider’s stock worth $23,050,000 after buying an additional 24,535 shares during the last quarter. Norden Group LLC purchased a new stake in shares of Truist Financial during the 1st quarter worth approximately $2,351,000. Finally, Nordea Investment Management AB lifted its position in shares of Truist Financial by 44.4% during the 1st quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock worth $105,353,000 after buying an additional 834,048 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the subject of several recent analyst reports. Royal Bank of Canada boosted their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Baird R W downgraded shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Argus boosted their price objective on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley boosted their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Barclays boosted their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $45.45.

Insider Transactions at Truist Financial

In other news, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Truist Financial news, CEO William H. Rogers, Jr. acquired 57,300 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were purchased at an average cost of $43.96 per share, with a total value of $2,518,908.00. Following the purchase, the chief executive officer now owns 569,271 shares in the company, valued at $25,025,153.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $44.14, for a total transaction of $295,208.32. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Truist Financial Stock Up 0.3 %

Shares of Truist Financial stock opened at $42.02 on Thursday. The company has a market cap of $56.27 billion, a P/E ratio of -31.83, a PEG ratio of 1.95 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.86. Truist Financial Co. has a one year low of $26.57 and a one year high of $45.31. The firm has a fifty day moving average of $42.73 and a two-hundred day moving average of $39.46.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter in the prior year, the firm earned $0.95 EPS. Truist Financial’s quarterly revenue was down 15.9% on a year-over-year basis. On average, analysts forecast that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.95%. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

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.