Triglav Skladi D.O.O. Buys Shares of 230,754 Truist Financial Co. (NYSE:TFC)

Triglav Skladi D.O.O. bought a new stake in Truist Financial Co. (NYSE:TFC - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 230,754 shares of the insurance provider's stock, valued at approximately $10,010,000. Truist Financial comprises 0.8% of Triglav Skladi D.O.O.'s holdings, making the stock its 29th biggest holding.

A number of other hedge funds also recently added to or reduced their stakes in TFC. Capital International Investors lifted its stake in Truist Financial by 26.0% in the fourth quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider's stock valued at $3,930,983,000 after buying an additional 18,712,246 shares during the last quarter. Norges Bank bought a new stake in Truist Financial in the fourth quarter valued at $402,828,000. FMR LLC lifted its stake in Truist Financial by 109.1% in the fourth quarter. FMR LLC now owns 10,460,159 shares of the insurance provider's stock valued at $453,762,000 after buying an additional 5,457,053 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Truist Financial in the fourth quarter valued at $198,051,000. Finally, Northern Trust Corp raised its stake in shares of Truist Financial by 20.5% during the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock valued at $626,154,000 after purchasing an additional 2,452,239 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on TFC. Wells Fargo & Company cut their price objective on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. TD Cowen began coverage on shares of Truist Financial in a research note on Thursday. They set a "hold" rating and a $44.00 price objective on the stock. Stephens cut their price objective on shares of Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Citigroup cut their price objective on shares of Truist Financial from $51.00 to $44.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Finally, Piper Sandler cut their price objective on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $47.83.

Truist Financial Trading Up 0.6%

Shares of TFC opened at $41.41 on Monday. The business's 50-day moving average price is $38.82 and its 200 day moving average price is $43.23. The stock has a market capitalization of $54.23 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.63 and a beta of 0.83. Truist Financial Co. has a 1-year low of $33.56 and a 1-year high of $49.06. 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 (NYSE:TFC - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting analysts' consensus estimates of $0.87. The firm had revenue of $4.95 billion for the quarter, compared to analysts' expectations of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same quarter last year, the business posted $0.90 EPS. Analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a yield of 5.02%. 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.

Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Co. (NYSE:TFC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.