California Public Employees Retirement System Decreases Stock Holdings in Truist Financial Co. (NYSE:TFC)

California Public Employees Retirement System lowered its position in shares of Truist Financial Co. (NYSE:TFC) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,440,054 shares of the insurance provider’s stock after selling 79,438 shares during the period. California Public Employees Retirement System owned about 0.18% of Truist Financial worth $90,087,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Truist Financial by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock valued at $3,355,141,000 after purchasing an additional 365,871 shares during the last quarter. Royal Bank of Canada lifted its stake in Truist Financial by 5.0% in the third quarter. Royal Bank of Canada now owns 15,384,890 shares of the insurance provider’s stock worth $440,162,000 after acquiring an additional 732,801 shares during the period. Morgan Stanley boosted its holdings in Truist Financial by 0.3% in the third quarter. Morgan Stanley now owns 15,364,138 shares of the insurance provider’s stock valued at $439,568,000 after acquiring an additional 39,510 shares in the last quarter. Truist Financial Corp increased its position in Truist Financial by 0.5% during the 3rd quarter. Truist Financial Corp now owns 5,197,904 shares of the insurance provider’s stock valued at $148,712,000 after purchasing an additional 26,972 shares during the period. Finally, Jennison Associates LLC raised its holdings in Truist Financial by 45.1% in the 3rd quarter. Jennison Associates LLC now owns 3,673,609 shares of the insurance provider’s stock worth $105,102,000 after purchasing an additional 1,141,944 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.

Insider Buying and Selling at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Stephens reiterated an “overweight” rating and set a $43.00 price target on shares of Truist Financial in a research report on Tuesday. HSBC raised their price objective on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Jefferies Financial Group upped their price target on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Royal Bank of Canada raised their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Finally, Compass Point upgraded Truist Financial from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $34.00 to $42.00 in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $41.97.

Truist Financial Stock Down 0.1 %

TFC opened at $38.79 on Thursday. Truist Financial Co. has a fifty-two week low of $25.56 and a fifty-two week high of $39.29. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $51.77 billion, a price-to-earnings ratio of -29.39, a price-to-earnings-growth ratio of 2.45 and a beta of 1.08. The firm’s fifty day moving average is $36.83 and its 200 day moving average is $34.73.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The company had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter last year, the company earned $1.09 EPS. The firm’s quarterly revenue was down 8.8% on a year-over-year basis. On average, sell-side analysts forecast that Truist Financial Co. will post 3.26 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 10th will be issued a $0.52 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.36%. Truist Financial’s dividend payout ratio is currently -157.58%.

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.