Elo Mutual Pension Insurance Co Sells 7,901 Shares of Truist Financial Co. (NYSE:TFC)

Elo Mutual Pension Insurance Co lessened its stake in shares of Truist Financial Co. (NYSE:TFC) by 5.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 131,880 shares of the insurance provider’s stock after selling 7,901 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Truist Financial were worth $5,721,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Truist Financial by 48.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock valued at $129,000 after buying an additional 971 shares in the last quarter. Principal Financial Group Inc. increased its position in Truist Financial by 3.5% in the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after purchasing an additional 50,637 shares during the last quarter. Country Club Bank raised its stake in Truist Financial by 719.8% during the fourth quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock valued at $1,973,000 after purchasing an additional 39,949 shares in the last quarter. David Wealth Management LLC bought a new position in Truist Financial during the fourth quarter valued at $2,354,000. Finally, Glass Wealth Management Co LLC grew its stake in shares of Truist Financial by 9.5% in the 4th quarter. Glass Wealth Management Co LLC now owns 67,978 shares of the insurance provider’s stock worth $2,949,000 after buying an additional 5,900 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

TFC has been the subject of a number of analyst reports. Citigroup lowered their price target on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating for the company in a report on Monday. Piper Sandler lifted their target price on Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Morgan Stanley raised their price target on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Raymond James boosted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Barclays raised their target price on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and an average price target of $50.79.

Truist Financial Price Performance

Shares of TFC opened at $41.42 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The company has a 50 day moving average price of $44.93 and a 200-day moving average price of $44.41. Truist Financial Co. has a fifty-two week low of $35.09 and a fifty-two week high of $49.06. The stock has a market capitalization of $54.07 billion, a PE ratio of 12.44, a PEG ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the prior year, the business earned $0.81 earnings per share. Truist Financial’s revenue was up 3.4% on a year-over-year basis. Equities analysts predict that Truist Financial Co. will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.52 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.08 annualized dividend and a yield of 5.02%. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

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.