Louisiana State Employees Retirement System Takes Position in Truist Financial Co. (NYSE:TFC)

Louisiana State Employees Retirement System acquired a new stake in Truist Financial Co. (NYSE:TFC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 80,600 shares of the insurance provider’s stock, valued at approximately $2,976,000.

A number of other institutional investors have also modified their holdings of TFC. EPG Wealth Management LLC grew its stake in Truist Financial by 1.8% during the 4th quarter. EPG Wealth Management LLC now owns 12,219 shares of the insurance provider’s stock worth $526,000 after purchasing an additional 213 shares in the last quarter. Williams Jones Wealth Management LLC. increased its holdings in shares of Truist Financial by 5.8% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 4,850 shares of the insurance provider’s stock valued at $275,000 after acquiring an additional 268 shares during the last quarter. Financial Advocates Investment Management increased its holdings in shares of Truist Financial by 3.5% in the 4th quarter. Financial Advocates Investment Management now owns 9,071 shares of the insurance provider’s stock valued at $390,000 after acquiring an additional 306 shares during the last quarter. Day & Ennis LLC increased its holdings in shares of Truist Financial by 4.3% in the 4th quarter. Day & Ennis LLC now owns 7,525 shares of the insurance provider’s stock valued at $278,000 after acquiring an additional 311 shares during the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of Truist Financial by 32.0% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,333 shares of the insurance provider’s stock valued at $49,000 after acquiring an additional 323 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director K. David Jr. Boyer sold 3,764 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the completion of the sale, the director now directly owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods increased their price objective on Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, April 5th. UBS Group increased their price objective on Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 5th. HSBC increased their price objective on Truist Financial from $37.00 to $39.00 and gave the company a “hold” rating in a report on Thursday, March 28th. Raymond James upped their target price on Truist Financial from $34.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. Finally, Barclays upped their target price on Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $41.47.

Truist Financial Stock Down 0.2 %

Truist Financial stock opened at $36.71 on Tuesday. Truist Financial Co. has a twelve month low of $25.56 and a twelve month high of $39.29. The stock has a 50 day moving average of $36.64 and a two-hundred day moving average of $34.31. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $48.99 billion, a price-to-earnings ratio of -33.99, a PEG ratio of 2.27 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. Truist Financial had a positive return on equity of 9.64% and a negative net margin of 3.28%. The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same period last year, the firm earned $1.30 EPS. As a group, research analysts expect that Truist Financial Co. will post 3.33 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were issued a $0.52 dividend. The ex-dividend date was Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 5.67%. Truist Financial’s dividend payout ratio is currently -192.59%.

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.