Munich Reinsurance Co Stock Corp in Munich Makes New Investment in Truist Financial Corporation $TFC

Key Points

• Munich Re acquired a new position of 87,944 Truist shares in Q4, worth about $4.36 million, and institutional investors now own roughly 71.28% of the stock.
• Truist beat expectations for the quarter with $1.09 EPS versus $1.00 consensus and $5.20 billion in revenue (up 5% YoY), and it pays a $0.52 quarterly dividend (annualized $2.08) for a 4.1% yield and a ~51.6% payout ratio.
• Analysts have an average rating of Moderate Buy on TFC with a consensus price target of $55.41 (10 Buys, 4 Holds, 1 Sell).

Munich Reinsurance Co Stock Corp in Munich acquired a new position in Truist Financial Corporation (NYSE:TFC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 87,944 shares of the insurance provider's stock, valued at approximately $4,359,000.

Other hedge funds have also bought and sold shares of the company. Valley Wealth Managers Inc. purchased a new stake in Truist Financial in the 3rd quarter worth approximately $28,000. Darwin Wealth Management LLC lifted its position in shares of Truist Financial by 631.6% during the 3rd quarter. Darwin Wealth Management LLC now owns 695 shares of the insurance provider's stock valued at $32,000 after buying an additional 600 shares in the last quarter. Ancora Advisors LLC lifted its position in shares of Truist Financial by 259.1% during the 3rd quarter. Ancora Advisors LLC now owns 693 shares of the insurance provider's stock valued at $32,000 after buying an additional 500 shares in the last quarter. Maseco LLP lifted its position in shares of Truist Financial by 53.8% during the 4th quarter. Maseco LLP now owns 652 shares of the insurance provider's stock valued at $32,000 after buying an additional 228 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its position in shares of Truist Financial by 190.7% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider's stock valued at $32,000 after buying an additional 431 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TFC shares. The Goldman Sachs Group reiterated a "buy" rating and set a $58.00 target price on shares of Truist Financial in a research report on Tuesday, January 6th. JPMorgan Chase & Co. decreased their target price on Truist Financial from $57.00 to $51.50 and set a "neutral" rating on the stock in a research report on Tuesday, April 7th. Royal Bank Of Canada increased their target price on Truist Financial from $51.00 to $53.00 and gave the company an "outperform" rating in a research report on Monday. Barclays lowered Truist Financial from an "equal weight" rating to an "underweight" rating and increased their target price for the company from $47.00 to $56.00 in a research report on Monday, January 5th. Finally, Raymond James Financial increased their target price on Truist Financial from $50.00 to $56.00 and gave the company an "outperform" rating in a research report on Wednesday, January 7th. Ten analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Truist Financial has an average rating of "Moderate Buy" and a consensus price target of $55.41.

Truist Financial Stock Down 1.3%

Shares of TFC opened at $50.75 on Friday. Truist Financial Corporation has a 52-week low of $37.47 and a 52-week high of $56.19. The company has a market capitalization of $62.98 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 0.88 and a beta of 0.89. The stock has a fifty day simple moving average of $48.18 and a two-hundred day simple moving average of $48.04. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC - Get Free Report) last issued its earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.09. Truist Financial had a return on equity of 9.55% and a net margin of 18.14%.The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same period last year, the company earned $0.87 EPS. The company's revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities analysts forecast that Truist Financial Corporation will post 4.51 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.1%. Truist Financial's dividend payout ratio (DPR) is 51.61%.

Insiders Place Their Bets

In other Truist Financial news, CAO Cynthia B. Powell sold 3,500 shares of the firm's stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $52.49, for a total value of $183,715.00. Following the completion of the sale, the chief accounting officer directly owned 667 shares of the company's stock, valued at $35,010.83. This trade represents a 83.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Baron Maguire sold 13,000 shares of the firm's stock in a transaction on Monday, January 26th. The stock was sold at an average price of $50.13, for a total value of $651,690.00. Following the completion of the sale, the chief financial officer directly owned 74,323 shares of the company's stock, valued at $3,725,811.99. This trade represents a 14.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.15% of the stock is owned by company insiders.

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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