Triglav Skladi D.O.O. Sells 12,340 Shares of Truist Financial Corporation (NYSE:TFC)

Key Points

• Triglav Skladi D.O.O. has reduced its stake in Truist Financial Corporation by 5.3%, selling 12,340 shares and holding 218,414 shares worth approximately $8.99 million.
• Various hedge funds have altered their holdings in Truist, with Caisse DE Depot ET Placement DU Quebec increasing its stake by 81.7%, now owning over 1.1 million shares valued at $48.08 million.
• Analysts have set a consensus price target for Truist Financial stock at $48.65, with ratings ranging from "hold" to "strong buy" based on recent evaluations.

Triglav Skladi D.O.O. trimmed its position in Truist Financial Corporation (NYSE:TFC - Free Report) by 5.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 218,414 shares of the insurance provider's stock after selling 12,340 shares during the period. Triglav Skladi D.O.O.'s holdings in Truist Financial were worth $8,988,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TFC. Comerica Bank raised its holdings in Truist Financial by 3.6% during the 4th quarter. Comerica Bank now owns 449,484 shares of the insurance provider's stock worth $19,499,000 after buying an additional 15,499 shares during the period. 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. Code Waechter LLC acquired a new stake in shares of Truist Financial in the first quarter valued at approximately $365,000. Cantor Fitzgerald Investment Advisors L.P. raised its holdings in shares of Truist Financial by 4.6% in the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 435,650 shares of the insurance provider's stock valued at $17,927,000 after purchasing an additional 19,286 shares during the last quarter. 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. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Bradley D. Bender sold 12,540 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total value of $566,682.60. Following the completion of the transaction, the insider owned 500 shares of the company's stock, valued at $22,595. This represents a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Barclays lowered their price objective on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Keefe, Bruyette & Woods downgraded shares of Truist Financial from an "outperform" rating to a "market perform" rating and set a $48.00 price objective on the stock. in a report on Wednesday, July 9th. Stephens lowered their target price on shares of Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Citigroup upgraded shares of Truist Financial from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $44.00 to $55.00 in a report on Thursday, June 26th. Finally, Raymond James Financial upgraded shares of Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 target price on the stock in a report on Tuesday, July 8th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.65.

Truist Financial Stock Up 2.8%

TFC stock opened at $44.03 on Wednesday. The company has a market cap of $56.77 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87. The business has a 50-day simple moving average of $43.02 and a 200 day simple moving average of $41.93. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $49.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75.

Truist Financial (NYSE:TFC - Get Free Report) last issued its earnings results on Friday, July 18th. The insurance provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.02). The business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%. The firm's revenue was down 406.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 EPS. Sell-side analysts anticipate that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.7%. Truist Financial's dividend payout ratio is currently 56.68%.

Truist Financial Company 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.

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