National Pension Service Boosts Stake in Truist Financial Co. (NYSE:TFC)

National Pension Service raised its stake in shares of Truist Financial Co. (NYSE:TFC) by 14.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,401,518 shares of the insurance provider’s stock after acquiring an additional 431,741 shares during the period. National Pension Service owned approximately 0.25% of Truist Financial worth $145,483,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new position in Truist Financial during the first quarter worth $27,000. MFA Wealth Advisors LLC bought a new position in shares of Truist Financial during the second quarter valued at approximately $30,000. Y.D. More Investments Ltd acquired a new position in shares of Truist Financial during the second quarter worth approximately $31,000. Fortitude Family Office LLC lifted its position in shares of Truist Financial by 376.7% during the 3rd quarter. Fortitude Family Office LLC now owns 858 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 678 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Truist Financial during the 2nd quarter valued at $38,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $42.07 on Tuesday. The firm’s 50 day moving average is $42.79 and its two-hundred day moving average is $40.77. Truist Financial Co. has a 52 week low of $28.93 and a 52 week high of $45.31. 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 firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.94%. Truist Financial’s dividend payout ratio is currently -145.45%.

Analyst Ratings Changes

A number of research firms have issued reports on TFC. Citigroup cut shares of Truist Financial from a “buy” rating to a “neutral” rating and upped their price target for the company from $45.00 to $47.00 in a report on Wednesday, July 24th. Compass Point lifted their price target on shares of Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Barclays boosted their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. StockNews.com raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Bank of America increased their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Truist Financial presently has an average rating of “Hold” and a consensus price target of $46.02.

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.