Public Employees Retirement System of Ohio Sells 28,078 Shares of Truist Financial Co. (NYSE:TFC)

Public Employees Retirement System of Ohio decreased its holdings in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 567,162 shares of the insurance provider's stock after selling 28,078 shares during the period. Public Employees Retirement System of Ohio's holdings in Truist Financial were worth $24,603,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Comerica Bank raised its holdings in shares of Truist Financial by 3.6% in the fourth quarter. Comerica Bank now owns 449,484 shares of the insurance provider's stock valued at $19,499,000 after purchasing an additional 15,499 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Truist Financial by 81.7% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,108,466 shares of the insurance provider's stock valued at $48,085,000 after purchasing an additional 498,531 shares during the last quarter. Country Club Bank raised its holdings in shares of Truist Financial by 719.8% in the fourth quarter. Country Club Bank now owns 45,499 shares of the insurance provider's stock valued at $1,973,000 after purchasing an additional 39,949 shares during the last quarter. David Wealth Management LLC purchased a new stake in shares of Truist Financial in the fourth quarter valued at about $2,354,000. Finally, Stifel Financial Corp raised its holdings in shares of Truist Financial by 2.8% in the fourth quarter. Stifel Financial Corp now owns 2,242,763 shares of the insurance provider's stock valued at $97,291,000 after purchasing an additional 60,848 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Argus set a $43.00 target price on shares of Truist Financial in a report on Monday, April 21st. Baird R W upgraded shares of Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price target on shares of Truist Financial from $48.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Raymond James lowered shares of Truist Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday, April 2nd. Finally, Citigroup reduced their price target on shares of Truist Financial from $51.00 to $44.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Truist Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.83.

Truist Financial Price Performance

Shares of Truist Financial stock traded up $0.21 on Thursday, reaching $39.55. The stock had a trading volume of 6,824,031 shares, compared to its average volume of 8,271,564. Truist Financial Co. has a 1 year low of $33.56 and a 1 year high of $49.06. The company has a market cap of $51.79 billion, a P/E ratio of 11.88, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The business's 50 day moving average is $38.68 and its two-hundred day moving average is $43.00.

Truist Financial (NYSE:TFC - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. As a group, research analysts anticipate that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date is Friday, May 9th. Truist Financial's dividend payout ratio is currently 61.36%.

About Truist Financial

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.