Elo Mutual Pension Insurance Co Cuts Stake in Truist Financial Co. (NYSE:TFC)

Elo Mutual Pension Insurance Co lessened its holdings in shares of Truist Financial Co. (NYSE:TFC) by 5.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 131,880 shares of the insurance provider’s stock after selling 7,901 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Truist Financial were worth $5,721,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Truist Financial by 7.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,073,644 shares of the insurance provider’s stock worth $91,448,000 after acquiring an additional 140,585 shares in the last quarter. Korea Investment CORP grew its position in Truist Financial by 138.5% during the 4th quarter. Korea Investment CORP now owns 578,432 shares of the insurance provider’s stock worth $25,092,000 after purchasing an additional 335,912 shares during the last quarter. Ausdal Financial Partners Inc. purchased a new stake in Truist Financial during the 4th quarter worth approximately $212,000. Zions Bancorporation N.A. increased its stake in Truist Financial by 9.9% during the 4th quarter. Zions Bancorporation N.A. now owns 156,174 shares of the insurance provider’s stock valued at $6,775,000 after purchasing an additional 14,005 shares in the last quarter. Finally, TIAA Trust National Association raised its holdings in shares of Truist Financial by 1.2% in the fourth quarter. TIAA Trust National Association now owns 23,822 shares of the insurance provider’s stock worth $1,033,000 after buying an additional 283 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

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

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

Truist Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

TFC has been the topic of several research reports. Stephens upped their target price on Truist Financial from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their target price on Truist Financial from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Citigroup cut their price target on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Raymond James lifted their price objective on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.79.

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.