Public Employees Retirement Association of Colorado Reduces Holdings in Truist Financial Co. (NYSE:TFC)

Public Employees Retirement Association of Colorado lowered its position in Truist Financial Co. (NYSE:TFC) by 4.6% in the 1st quarter, HoldingsChannel reports. The fund owned 187,780 shares of the insurance provider’s stock after selling 8,983 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Truist Financial were worth $7,320,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Crewe Advisors LLC bought a new stake in shares of Truist Financial in the first quarter valued at approximately $27,000. Opal Wealth Advisors LLC purchased a new stake in shares of Truist Financial during the first quarter worth $29,000. Missouri Trust & Investment Co boosted its holdings in shares of Truist Financial by 227.2% in the fourth quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 593 shares during the period. Rise Advisors LLC bought a new position in Truist Financial in the 1st quarter worth about $32,000. Finally, Morton Brown Family Wealth LLC boosted its holdings in Truist Financial by 236.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 649 shares during the period. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Up 0.3 %

TFC stock opened at $44.60 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. Truist Financial Co. has a twelve month low of $26.57 and a twelve month high of $44.78. The stock has a market cap of $59.68 billion, a P/E ratio of -33.68, a PEG ratio of 2.07 and a beta of 1.07. The business’s 50-day moving average price is $38.92 and its 200-day moving average price is $37.80.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.84 by $0.07. The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The business’s revenue was down 15.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 earnings per share. On average, equities research analysts forecast that Truist Financial Co. will post 3.57 EPS for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.66%. Truist Financial’s dividend payout ratio is currently -157.58%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Barclays raised their target price on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Argus increased their target price on Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group lifted their price target on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Baird R W lowered Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada boosted their target price on Truist Financial from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Truist Financial has a consensus rating of “Hold” and an average target price of $45.05.

Insider Buying and Selling

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

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.