Oregon Public Employees Retirement Fund Sells 750 Shares of Truist Financial Co. (NYSE:TFC)

Oregon Public Employees Retirement Fund trimmed its stake in shares of Truist Financial Co. (NYSE:TFC) by 0.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 113,805 shares of the insurance provider’s stock after selling 750 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Truist Financial were worth $4,937,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TFC. AMF Tjanstepension AB bought a new stake in shares of Truist Financial during the 3rd quarter valued at $3,208,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Truist Financial by 14.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,949 shares of the insurance provider’s stock worth $4,377,000 after buying an additional 13,018 shares in the last quarter. Pallas Capital Advisors LLC acquired a new position in shares of Truist Financial during the 3rd quarter worth $397,000. abrdn plc raised its holdings in shares of Truist Financial by 4.3% during the 3rd quarter. abrdn plc now owns 1,184,313 shares of the insurance provider’s stock worth $50,452,000 after buying an additional 49,157 shares in the last quarter. Finally, Fortitude Family Office LLC raised its holdings in shares of Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after buying an additional 678 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TFC shares. Stephens boosted their price target on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Citigroup boosted their price target on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Keefe, Bruyette & Woods boosted their price target on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, January 7th. Finally, Piper Sandler upped their target price on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

Truist Financial Trading Up 0.2 %

Shares of TFC stock opened at $45.26 on Thursday. The stock has a market cap of $60.08 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 1.63 and a beta of 1.08. The stock has a 50-day moving average of $45.65 and a 200-day moving average of $44.57. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a 1-year low of $34.51 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.81 earnings per share. On average, equities research analysts forecast that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.60%. Truist Financial’s payout ratio is 62.46%.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total transaction of $229,429.20. Following the sale, the director now owns 11,246 shares in the company, valued at $519,565.20. This represents a 30.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by corporate insiders.

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.