Mn Services Vermogensbeheer B.V. Sells 37,400 Shares of Truist Financial Co. (NYSE:TFC)

Mn Services Vermogensbeheer B.V. trimmed its stake in Truist Financial Co. (NYSE:TFC - Free Report) by 7.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 486,900 shares of the insurance provider's stock after selling 37,400 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Truist Financial were worth $20,036,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. FWG Holdings LLC grew its stake in shares of Truist Financial by 4.3% in the fourth quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider's stock worth $267,000 after purchasing an additional 234 shares during the last quarter. Pathway Financial Advisors LLC raised its position in Truist Financial by 2.2% during the 4th quarter. Pathway Financial Advisors LLC now owns 12,124 shares of the insurance provider's stock valued at $526,000 after purchasing an additional 260 shares during the last quarter. Nwam LLC lifted its holdings in Truist Financial by 3.2% in the 4th quarter. Nwam LLC now owns 8,395 shares of the insurance provider's stock worth $364,000 after buying an additional 263 shares during the period. Wealth Quarterback LLC grew its position in shares of Truist Financial by 1.8% in the 4th quarter. Wealth Quarterback LLC now owns 15,287 shares of the insurance provider's stock worth $663,000 after buying an additional 266 shares during the last quarter. Finally, TIAA Trust National Association increased its stake in shares of Truist Financial by 1.2% during the fourth quarter. TIAA Trust National Association now owns 23,822 shares of the insurance provider's stock valued at $1,033,000 after buying an additional 283 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TFC has been the topic of several recent analyst reports. Raymond James cut shares of Truist Financial from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their price target on shares of Truist Financial from $53.00 to $47.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. Baird R W upgraded Truist Financial from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Argus set a $43.00 price target on Truist Financial in a research note on Monday, April 21st. Finally, Wall Street Zen raised Truist Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Nine analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.83.

Truist Financial Stock Up 1.0%

Shares of TFC stock traded up $0.40 during mid-day trading on Monday, hitting $39.37. The company's stock had a trading volume of 6,628,238 shares, compared to its average volume of 8,276,659. The stock has a market cap of $51.56 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 1.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. Truist Financial Co. has a 52-week low of $33.56 and a 52-week high of $49.06. The business has a 50-day moving average price of $38.77 and a 200 day moving average price of $42.34.

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

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were paid a $0.52 dividend. The ex-dividend date was Friday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.28%. Truist Financial's dividend payout ratio (DPR) is currently 61.36%.

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.