304,114 Shares in Truist Financial Corporation $TFC Acquired by Nykredit A S

Key Points

• Nykredit A/S acquired 304,114 shares of Truist Financial in the second quarter, valued at approximately $15.2 million. Institutional investors collectively own 71.28% of the company.
• Analyst sentiment remains mixed, with Truist carrying an overall “Hold” rating and an average price target of $55.12. Recent target changes ranged from $54 to $57.
• Truist reported quarterly EPS of $1.23, exceeding estimates by $0.15, while revenue rose 5.6% year over year to $5.31 billion. The company also declared a $0.52 quarterly dividend, representing a 4.0% annualized yield.

Nykredit A S acquired a new stake in shares of Truist Financial Corporation (NYSE:TFC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 304,114 shares of the insurance provider's stock, valued at approximately $15,151,000.

Several other large investors have also made changes to their positions in the company. Kemnay Advisory Services Inc. purchased a new position in shares of Truist Financial in the 4th quarter worth about $25,000. Swiss RE Ltd. purchased a new position in Truist Financial in the fourth quarter valued at approximately $26,000. N.E.W. Advisory Services LLC purchased a new position in Truist Financial in the second quarter valued at approximately $30,000. Navigoe LLC acquired a new position in Truist Financial during the second quarter valued at approximately $30,000. Finally, McMillan Office Inc. acquired a new position in Truist Financial during the fourth quarter valued at approximately $31,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Truist Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Keefe, Bruyette & Woods upped their price target on shares of Truist Financial from $53.00 to $55.00 and gave the stock a "market perform" rating in a research report on Monday, July 20th. Stephens lowered their price target on Truist Financial from $59.00 to $57.00 and set an "overweight" rating for the company in a report on Tuesday, July 21st. JPMorgan Chase & Co. boosted their price objective on Truist Financial from $53.00 to $54.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 29th. Finally, Robert W. Baird upped their target price on Truist Financial from $55.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $55.12.

Insider Buying and Selling

In other Truist Financial news, insider Dontá Wilson sold 13,280 shares of Truist Financial stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $51.85, for a total transaction of $688,568.00. Following the transaction, the insider owned 56,009 shares of the company's stock, valued at $2,904,066.65. The trade was a 19.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William H. Rogers, Jr. sold 13,250 shares of the company's stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $52.36, for a total value of $693,770.00. The SEC filing for this sale provides additional information. Insiders sold 30,516 shares of company stock valued at $1,584,428 over the last 90 days. 0.15% of the stock is currently owned by company insiders.

Truist Financial Trading Up 0.1%

NYSE:TFC opened at $51.68 on Friday. The stock has a market cap of $63.13 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 1.08 and a beta of 0.88. Truist Financial Corporation has a one year low of $40.78 and a one year high of $56.19. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. The business's 50-day simple moving average is $51.55 and its 200 day simple moving average is $49.58.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings data on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.15. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.24 billion. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.Truist Financial's revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 EPS. As a group, sell-side analysts predict that Truist Financial Corporation will post 4.58 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, August 14th. Truist Financial's dividend payout ratio (DPR) is 47.71%.

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.

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