Forsta AP Fonden Boosts Holdings in Truist Financial Co. (NYSE:TFC)

Forsta AP Fonden increased its stake in shares of Truist Financial Co. (NYSE:TFC) by 7.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 289,400 shares of the insurance provider’s stock after buying an additional 19,400 shares during the period. Forsta AP Fonden’s holdings in Truist Financial were worth $12,378,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Capital International Investors increased its holdings in 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 buying an additional 5,632,493 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Truist Financial by 1.0% in the second quarter. Legal & General Group Plc now owns 10,338,802 shares of the insurance provider’s stock worth $401,663,000 after purchasing an additional 103,565 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Truist Financial by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after purchasing an additional 299,196 shares in the last quarter. Truist Financial Corp increased its stake in shares of Truist Financial by 6.7% in the second quarter. Truist Financial Corp now owns 4,931,783 shares of the insurance provider’s stock worth $191,600,000 after purchasing an additional 311,523 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Truist Financial by 48.9% in the first quarter. Jennison Associates LLC now owns 3,840,374 shares of the insurance provider’s stock worth $149,698,000 after purchasing an additional 1,261,598 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Trading Down 1.8 %

TFC stock opened at $42.63 on Friday. The company has a market capitalization of $57.04 billion, a PE ratio of -32.30, a price-to-earnings-growth ratio of 1.84 and a beta of 1.05. Truist Financial Co. has a one year low of $27.38 and a one year high of $45.31. The company’s 50 day moving average price is $42.79 and its two-hundred day moving average price is $40.47. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date is Friday, November 8th. Truist Financial’s payout ratio is currently -157.58%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TFC. Barclays lifted their target price on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Stephens reiterated an “overweight” rating and issued a $50.00 target price on shares of Truist Financial in a research note on Tuesday, September 10th. UBS Group lifted their target price on shares of Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Citigroup lowered shares of Truist Financial from a “buy” rating to a “neutral” rating and raised their price objective for the company from $45.00 to $47.00 in a research report on Wednesday, July 24th. Finally, Bank of America raised their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.02.

Truist Financial 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.