Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 118,900 Shares of Truist Financial Corporation $TFC

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Truist Financial Corporation (NYSE:TFC) by 56.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 328,098 shares of the insurance provider’s stock after buying an additional 118,900 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Truist Financial were worth $15,083,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Kemnay Advisory Services Inc. acquired a new stake in Truist Financial during the 4th quarter worth $25,000. Swiss RE Ltd. acquired a new position in Truist Financial in the fourth quarter valued at about $26,000. McMillan Office Inc. acquired a new position in Truist Financial in the fourth quarter valued at about $31,000. Maseco LLP increased its holdings in shares of Truist Financial by 53.8% in the fourth quarter. Maseco LLP now owns 652 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 228 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of Truist Financial by 190.7% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 431 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TFC. Wall Street Zen lowered Truist Financial from a “hold” rating to a “sell” rating in a research report on Monday, June 29th. Stephens assumed coverage on Truist Financial in a research report on Monday, June 15th. They issued an “overweight” rating and a $59.00 price objective for the company. Raymond James Financial reissued a “market perform” rating on shares of Truist Financial in a research note on Wednesday. Morgan Stanley dropped their target price on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating on the stock in a report on Monday, April 20th. Finally, Weiss Ratings raised shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Truist Financial has a consensus rating of “Hold” and a consensus target price of $55.26.

Truist Financial Price Performance

TFC stock opened at $50.95 on Friday. The stock has a 50-day moving average price of $49.17 and a two-hundred day moving average price of $49.40. Truist Financial Corporation has a 1 year low of $40.78 and a 1 year high of $56.19. The stock has a market cap of $63.47 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 0.87 and a beta of 0.89. 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 (NYSE:TFC) last issued its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.18 billion. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.87 earnings per share. Equities analysts forecast that Truist Financial Corporation will post 4.52 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were paid a $0.52 dividend. The ex-dividend date was Friday, May 8th. This represents a $2.08 annualized dividend and a yield of 4.1%. Truist Financial’s payout ratio is presently 51.61%.

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.