APG Asset Management N.V. Grows Stock Position in Truist Financial Co. (NYSE:TFC)

APG Asset Management N.V. raised its position in shares of Truist Financial Co. (NYSE:TFC) by 3.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,197,666 shares of the insurance provider’s stock after acquiring an additional 108,819 shares during the period. APG Asset Management N.V. owned approximately 0.24% of Truist Financial worth $115,913,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital International Investors lifted its position in shares of Truist Financial by 93.7% during the first quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after purchasing an additional 5,632,493 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Truist Financial by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock valued at $346,957,000 after buying an additional 299,196 shares in the last quarter. Jennison Associates LLC boosted its position in Truist Financial by 48.9% in the 1st quarter. Jennison Associates LLC now owns 3,840,374 shares of the insurance provider’s stock valued at $149,698,000 after buying an additional 1,261,598 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Truist Financial by 1.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,489,411 shares of the insurance provider’s stock worth $136,018,000 after acquiring an additional 58,349 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Truist Financial by 2.0% during the second quarter. Hsbc Holdings PLC now owns 2,986,841 shares of the insurance provider’s stock worth $115,774,000 after acquiring an additional 58,463 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In other Truist Financial news, CEO William H. Rogers, Jr. acquired 57,300 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was acquired at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the purchase, the chief executive officer now owns 569,271 shares in the company, valued at approximately $25,025,153.16. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William H. Rogers, Jr. acquired 57,300 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were purchased at an average cost of $43.96 per share, for a total transaction of $2,518,908.00. Following the purchase, the chief executive officer now directly owns 569,271 shares in the company, valued at $25,025,153.16. The disclosure for this purchase can be found here. 0.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TFC. Stephens reiterated an “overweight” rating and issued a $50.00 price target on shares of Truist Financial in a report on Tuesday, September 10th. Wolfe Research raised Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and increased their target price for the stock from $45.00 to $47.00 in a report on Wednesday, July 24th. Finally, Barclays boosted their price target on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $45.45.

Truist Financial Stock Up 1.4 %

TFC stock opened at $42.33 on Friday. The stock has a market capitalization of $56.68 billion, a PE ratio of -32.06, a price-to-earnings-growth ratio of 1.94 and a beta of 1.06. Truist Financial Co. has a 52 week low of $26.57 and a 52 week high of $45.31. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average of $42.79 and a 200 day moving average of $39.64.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The business’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 earnings per share. Sell-side analysts forecast that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 4.91%. Truist Financial’s dividend payout ratio is currently -157.58%.

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.