Truist Financial Co. (NYSE:TFC) Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB lessened its position in shares of Truist Financial Co. (NYSE:TFC) by 10.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 52,780 shares of the insurance provider’s stock after selling 6,020 shares during the period. E. Ohman J or Asset Management AB’s holdings in Truist Financial were worth $2,257,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TFC. Norden Group LLC purchased a new position in shares of Truist Financial in the 1st quarter valued at about $2,351,000. Nordea Investment Management AB raised its stake in shares of Truist Financial by 44.4% during the 1st quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock worth $105,353,000 after buying an additional 834,048 shares during the period. CreativeOne Wealth LLC purchased a new position in shares of Truist Financial during the 1st quarter valued at approximately $516,000. M&G Plc acquired a new stake in Truist Financial in the 2nd quarter valued at $2,804,000. Finally, Dimensional Fund Advisors LP increased its holdings in Truist Financial by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after acquiring an additional 299,196 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on TFC shares. JPMorgan Chase & Co. increased their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Robert W. Baird lowered Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research note on Wednesday, July 17th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Stephens reaffirmed an “overweight” rating and issued a $50.00 price target on shares of Truist Financial in a research note on Tuesday, September 10th. Finally, Bank of America increased their price objective on Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $46.02.

Truist Financial Price Performance

NYSE:TFC opened at $42.63 on Friday. Truist Financial Co. has a 52 week low of $27.38 and a 52 week high of $45.31. The stock’s fifty day moving average is $42.78 and its two-hundred day moving average is $40.43. The company has a market capitalization of $57.04 billion, a P/E ratio of -32.30, a P/E/G ratio of 1.84 and a beta of 1.05. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62.

Truist Financial Dividend Announcement

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

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.