Thrivent Financial for Lutherans Has $2.75 Million Holdings in Truist Financial Corporation $TFC

Thrivent Financial for Lutherans lessened its stake in shares of Truist Financial Corporation (NYSE:TFC) by 21.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,072 shares of the insurance provider’s stock after selling 16,450 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Truist Financial were worth $2,746,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Independent Advisor Alliance lifted its holdings in Truist Financial by 9.7% in the 3rd quarter. Independent Advisor Alliance now owns 329,093 shares of the insurance provider’s stock worth $15,046,000 after purchasing an additional 29,191 shares during the last quarter. Keybank National Association OH grew its holdings in Truist Financial by 14.5% during the third quarter. Keybank National Association OH now owns 103,308 shares of the insurance provider’s stock valued at $4,723,000 after purchasing an additional 13,058 shares during the last quarter. Howard Capital Management Inc. raised its position in shares of Truist Financial by 3.3% in the third quarter. Howard Capital Management Inc. now owns 9,012 shares of the insurance provider’s stock valued at $412,000 after purchasing an additional 288 shares during the period. National Pension Service lifted its stake in shares of Truist Financial by 2.6% in the third quarter. National Pension Service now owns 3,381,215 shares of the insurance provider’s stock worth $154,589,000 after buying an additional 85,824 shares during the last quarter. Finally, Twin City Private Wealth LLC boosted its holdings in shares of Truist Financial by 15.3% during the 3rd quarter. Twin City Private Wealth LLC now owns 33,755 shares of the insurance provider’s stock worth $1,543,000 after buying an additional 4,468 shares during the period. 71.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TFC has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 17th. Evercore upped their price target on shares of Truist Financial from $58.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Barclays lowered Truist Financial from an “equal weight” rating to an “underweight” rating and lifted their price objective for the stock from $47.00 to $56.00 in a research note on Monday, January 5th. Piper Sandler boosted their price objective on Truist Financial from $50.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, January 22nd. Finally, TD Cowen increased their target price on Truist Financial from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Truist Financial currently has an average rating of “Hold” and an average price target of $55.60.

Insider Activity at Truist Financial

In other news, CAO Cynthia B. Powell sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $52.49, for a total value of $183,715.00. Following the sale, the chief accounting officer directly owned 667 shares in the company, valued at approximately $35,010.83. This represents a 83.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director K. David Jr. Boyer sold 5,160 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $46.45, for a total value of $239,682.00. Following the transaction, the director owned 10,153 shares of the company’s stock, valued at $471,606.85. This trade represents a 33.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,660 shares of company stock valued at $1,075,087 over the last quarter. 0.14% of the stock is owned by company insiders.

Truist Financial Stock Performance

TFC opened at $54.82 on Tuesday. The stock’s 50 day simple moving average is $50.38 and its 200-day simple moving average is $46.79. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The stock has a market cap of $70.13 billion, a PE ratio of 14.39, a P/E/G ratio of 0.94 and a beta of 0.89. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $56.19.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Wednesday, January 21st. The insurance provider reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.09). The business had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.32 billion. Truist Financial had a return on equity of 9.03% and a net margin of 17.09%.The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 EPS. Sell-side analysts forecast that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.08 dividend on an annualized basis and a yield of 3.8%. Truist Financial’s payout ratio is presently 54.59%.

Truist Financial declared that its board has initiated a stock repurchase program on Tuesday, December 16th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the insurance provider to repurchase up to 15.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Truist Financial Company 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.