FUKOKU MUTUAL LIFE INSURANCE Co Grows Stock Holdings in Truist Financial Co. (NYSE:TFC)

FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in Truist Financial Co. (NYSE:TFC) by 12.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,744 shares of the insurance provider’s stock after buying an additional 1,069 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Truist Financial were worth $423,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TFC. AMF Tjanstepension AB acquired a new stake in Truist Financial in the 3rd quarter valued at about $3,208,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Truist Financial by 14.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,949 shares of the insurance provider’s stock valued at $4,377,000 after purchasing an additional 13,018 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in shares of Truist Financial in the third quarter valued at approximately $397,000. abrdn plc lifted its stake in Truist Financial by 4.3% in the 3rd quarter. abrdn plc now owns 1,184,313 shares of the insurance provider’s stock valued at $50,452,000 after buying an additional 49,157 shares in the last quarter. Finally, Fortitude Family Office LLC increased its position in Truist Financial by 376.7% during the third quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock worth $37,000 after buying an additional 678 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Truist Financial news, Director K. David Jr. Boyer sold 4,966 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $46.20, for a total value of $229,429.20. Following the completion of the sale, the director now directly owns 11,246 shares in the company, valued at $519,565.20. This represents a 30.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.17% of the company’s stock.

Truist Financial Stock Up 0.2 %

NYSE:TFC opened at $45.26 on Thursday. The firm has a market capitalization of $60.08 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The stock has a 50 day moving average of $45.65 and a 200-day moving average of $44.57. 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 52 week low of $34.51 and a 52 week high of $49.06.

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

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend is Friday, February 14th. Truist Financial’s dividend payout ratio (DPR) is presently 62.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TFC shares. Citigroup lifted their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. The Goldman Sachs Group raised their price objective on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Raymond James upped their target price on Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Stephens raised their price target on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. 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 research report on Monday, January 6th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

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.