Varma Mutual Pension Insurance Co Has $15.97 Million Holdings in Truist Financial Corporation $TFC

Key Points

• Varma Mutual increased its stake in Truist by 10% in Q4 to 324,580 shares, valued at about $15.97 million.
• Institutional investors own about 71.28% of Truist, with Vanguard, Capital International and Wellington among the largest holders.
• Analysts rate Truist a consensus "Moderate Buy" with a target price of $55.59, and the company pays a quarterly dividend of $0.52 (4.2% yield) with an ex-dividend date of May 8.

Varma Mutual Pension Insurance Co increased its position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 10.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 324,580 shares of the insurance provider's stock after acquiring an additional 29,500 shares during the quarter. Varma Mutual Pension Insurance Co's holdings in Truist Financial were worth $15,973,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TFC. Vanguard Group Inc. grew its position in Truist Financial by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 119,740,969 shares of the insurance provider's stock valued at $5,892,453,000 after purchasing an additional 701,049 shares in the last quarter. Capital International Investors grew its position in Truist Financial by 0.3% in the third quarter. Capital International Investors now owns 107,642,731 shares of the insurance provider's stock worth $4,921,717,000 after acquiring an additional 346,423 shares in the last quarter. Federated Hermes Inc. grew its position in Truist Financial by 8.4% in the third quarter. Federated Hermes Inc. now owns 10,445,658 shares of the insurance provider's stock worth $477,575,000 after acquiring an additional 813,177 shares in the last quarter. Wellington Management Group LLP grew its position in Truist Financial by 13,511.7% in the third quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider's stock worth $474,886,000 after acquiring an additional 10,310,523 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Truist Financial by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 8,492,845 shares of the insurance provider's stock worth $388,300,000 after acquiring an additional 168,464 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company's stock.

Analysts Set New Price Targets

TFC has been the subject of several recent research reports. Morgan Stanley decreased their target price on shares of Truist Financial from $63.00 to $62.00 and set an "overweight" rating for the company in a research report on Monday, April 20th. Robert W. Baird downgraded shares of Truist Financial from an "outperform" rating to a "neutral" rating and set a $55.00 target price for the company. in a research report on Friday. Weiss Ratings raised shares of Truist Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday. Argus boosted their price objective on shares of Truist Financial from $54.00 to $58.00 and gave the stock a "buy" rating in a research note on Friday, January 23rd. Finally, Royal Bank Of Canada boosted their price objective on shares of Truist Financial from $51.00 to $53.00 and gave the stock an "outperform" rating in a research note on Monday, April 20th. Nine research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Truist Financial presently has an average rating of "Moderate Buy" and a consensus target price of $55.59.

Truist Financial Price Performance

Shares of Truist Financial stock opened at $49.48 on Tuesday. The firm has a fifty day simple moving average of $48.10 and a 200-day simple moving average of $48.31. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a 1-year low of $38.27 and a 1-year high of $56.19. The stock has a market capitalization of $61.40 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 0.87 and a beta of 0.92.

Truist Financial (NYSE:TFC - Get Free Report) last issued its quarterly earnings data on Friday, April 17th. The insurance provider reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.18 billion. During the same period in the previous year, the company earned $0.87 earnings per share. Truist Financial's revenue for the quarter was up 5.0% on a year-over-year basis. On average, sell-side analysts expect that Truist Financial Corporation will post 4.52 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.2%. The ex-dividend date is Friday, May 8th. Truist Financial's dividend payout ratio is presently 51.61%.

Truist Financial Company Profile

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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