BI Asset Management Fondsmaeglerselskab A S Sells 13,225 Shares of Truist Financial Co. (NYSE:TFC)

BI Asset Management Fondsmaeglerselskab A S trimmed its holdings in Truist Financial Co. (NYSE:TFC) by 34.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,957 shares of the insurance provider’s stock after selling 13,225 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Truist Financial were worth $921,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bleakley Financial Group LLC boosted its stake in Truist Financial by 6.1% in the 4th quarter. Bleakley Financial Group LLC now owns 29,890 shares of the insurance provider’s stock worth $1,104,000 after purchasing an additional 1,731 shares during the period. Natixis Advisors L.P. raised its holdings in shares of Truist Financial by 30.9% during the 4th quarter. Natixis Advisors L.P. now owns 373,375 shares of the insurance provider’s stock worth $13,783,000 after acquiring an additional 88,035 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Truist Financial by 53.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 338,972 shares of the insurance provider’s stock worth $12,515,000 after acquiring an additional 117,524 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Truist Financial by 3,359.6% during the 4th quarter. International Assets Investment Management LLC now owns 1,045,560 shares of the insurance provider’s stock worth $38,602,000 after acquiring an additional 1,015,338 shares in the last quarter. Finally, Loudon Investment Management LLC raised its holdings in shares of Truist Financial by 18.5% during the 3rd quarter. Loudon Investment Management LLC now owns 131,398 shares of the insurance provider’s stock worth $3,759,000 after acquiring an additional 20,490 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Insider Transactions at Truist Financial

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

Truist Financial Trading Down 1.7 %

Shares of Truist Financial stock opened at $38.88 on Thursday. The stock’s fifty day moving average is $38.01 and its two-hundred day moving average is $36.19. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.75. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $40.51.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, April 22nd. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.78 by $0.12. The company had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. Truist Financial’s quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.09 EPS. Sell-side analysts predict that Truist Financial Co. will post 3.34 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date is Thursday, May 9th. Truist Financial’s payout ratio is -157.58%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TFC. HSBC upped their price objective on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. upped their price objective on Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Keefe, Bruyette & Woods upped their price objective on Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Citigroup upped their price objective on Truist Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Evercore ISI restated an “in-line” rating and set a $44.00 price target on shares of Truist Financial in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.17.

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.