Public Employees Retirement Association of Colorado Has $7.11 Million Stake in Truist Financial Co. (NYSE:TFC)

Public Employees Retirement Association of Colorado cut its position in Truist Financial Co. (NYSE:TFC) by 2.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 183,012 shares of the insurance provider’s stock after selling 4,768 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Truist Financial were worth $7,110,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital International Investors grew its holdings in shares of Truist Financial by 93.7% during the 1st quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock valued at $453,854,000 after purchasing an additional 5,632,493 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Truist Financial by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock valued at $346,957,000 after purchasing an additional 299,196 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Truist Financial by 48.9% in the 1st quarter. Jennison Associates LLC now owns 3,840,374 shares of the insurance provider’s stock valued at $149,698,000 after purchasing an additional 1,261,598 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Truist Financial by 1.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,489,411 shares of the insurance provider’s stock valued at $136,018,000 after purchasing an additional 58,349 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Truist Financial by 2.0% in the 2nd quarter. Hsbc Holdings PLC now owns 2,986,841 shares of the insurance provider’s stock valued at $115,774,000 after purchasing an additional 58,463 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Bank of America boosted their target price on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. Argus upped their price objective on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Stephens restated an “overweight” rating and set a $50.00 price objective on shares of Truist Financial in a report on Tuesday, September 10th. Finally, Baird R W lowered shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $45.45.

Truist Financial Stock Down 1.4 %

Shares of Truist Financial stock opened at $42.32 on Friday. 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 52-week low of $26.57 and a 52-week high of $45.31. The stock has a market capitalization of $56.63 billion, a price-to-earnings ratio of -32.06, a P/E/G ratio of 1.98 and a beta of 1.06. The company’s 50 day moving average price is $42.81 and its 200-day moving average price is $39.54.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.07. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The firm’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.95 earnings per share. Equities research analysts forecast that Truist Financial Co. will post 3.55 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.91%. The ex-dividend date was Friday, August 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Insider Buying and Selling at Truist Financial

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

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.