Elo Mutual Pension Insurance Co Purchases 4,814 Shares of Truist Financial Co. (NYSE:TFC)

Elo Mutual Pension Insurance Co boosted its position in Truist Financial Co. (NYSE:TFCFree Report) by 4.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 116,290 shares of the insurance provider’s stock after purchasing an additional 4,814 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Truist Financial were worth $4,293,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Socorro Asset Management LP grew its position in Truist Financial by 3.9% in the 4th quarter. Socorro Asset Management LP now owns 206,884 shares of the insurance provider’s stock worth $7,638,000 after purchasing an additional 7,710 shares in the last quarter. Sompo Asset Management Co. Ltd. grew its position in shares of Truist Financial by 3.7% during the 4th quarter. Sompo Asset Management Co. Ltd. now owns 41,510 shares of the insurance provider’s stock valued at $1,533,000 after acquiring an additional 1,470 shares during the period. Waterloo Capital L.P. bought a new position in shares of Truist Financial during the 4th quarter valued at approximately $278,000. Wealth Quarterback LLC boosted its holdings in Truist Financial by 1.8% in the 4th quarter. Wealth Quarterback LLC now owns 21,567 shares of the insurance provider’s stock worth $796,000 after buying an additional 382 shares during the period. Finally, Pinnbrook Capital Management LP bought a new position in Truist Financial in the 4th quarter worth approximately $1,519,000. 71.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TFC has been the subject of several analyst reports. Citigroup raised their price objective on shares of Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Jefferies Financial Group raised their price objective on shares of Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Monday, April 8th. UBS Group raised their price objective on shares of Truist Financial from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, April 5th. TheStreet downgraded shares of Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. Finally, Barclays initiated coverage on shares of Truist Financial in a report on Thursday, May 16th. They issued an “equal weight” rating and a $43.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.17.

Check Out Our Latest Analysis on Truist Financial

Truist Financial Price Performance

Shares of NYSE:TFC opened at $36.04 on Tuesday. The stock has a market cap of $48.23 billion, a PE ratio of -27.30, a PEG ratio of 1.79 and a beta of 1.06. The company’s fifty day moving average is $38.03 and its 200 day moving average is $36.80. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $40.51. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFCGet Free Report) last issued its earnings results on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.12. The company had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The firm’s revenue was down 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.09 EPS. Research analysts anticipate that Truist Financial Co. will post 3.36 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 10th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date of this dividend was Thursday, May 9th. Truist Financial’s payout ratio is presently -157.58%.

Truist Financial Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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