BI Asset Management Fondsmaeglerselskab A S Has $1.56 Million Stock Holdings in Truist Financial Corporation $TFC

BI Asset Management Fondsmaeglerselskab A S lessened its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 40.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 33,876 shares of the insurance provider’s stock after selling 22,642 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Truist Financial were worth $1,557,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TFC. Brighton Jones LLC increased its position in shares of Truist Financial by 148.5% during the fourth quarter. Brighton Jones LLC now owns 23,581 shares of the insurance provider’s stock valued at $1,023,000 after purchasing an additional 14,093 shares during the period. Woodline Partners LP increased its holdings in Truist Financial by 39.5% during the 1st quarter. Woodline Partners LP now owns 111,177 shares of the insurance provider’s stock valued at $4,575,000 after purchasing an additional 31,454 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Truist Financial in the second quarter valued at $575,000. AXA S.A. raised its stake in shares of Truist Financial by 23.1% in the second quarter. AXA S.A. now owns 26,192 shares of the insurance provider’s stock worth $1,126,000 after acquiring an additional 4,921 shares during the last quarter. Finally, Main Street Financial Solutions LLC raised its position in shares of Truist Financial by 20.1% during the second quarter. Main Street Financial Solutions LLC now owns 6,783 shares of the insurance provider’s stock worth $292,000 after acquiring an additional 1,134 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

TFC has been the topic of several analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Wall Street Zen upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Sunday. Royal Bank Of Canada boosted their price objective on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Morgan Stanley lowered their target price on Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, April 20th. Finally, Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. Ten equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.79.

Truist Financial Stock Up 0.3%

Shares of TFC stock opened at $49.81 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a 1 year low of $40.78 and a 1 year high of $56.19. The firm’s fifty day moving average price is $49.13 and its two-hundred day moving average price is $49.31. The firm has a market capitalization of $62.06 billion, a P/E ratio of 12.36, a PEG ratio of 0.85 and a beta of 0.89.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same period in the prior year, the business posted $0.87 EPS. The company’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities analysts predict that Truist Financial Corporation will post 4.5 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. Truist Financial’s dividend payout ratio is currently 51.61%.

About Truist Financial

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.