Kentucky Retirement Systems lifted its stake in shares of Truist Financial Co. (NYSE:TFC – Get Rating) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 103,827 shares of the insurance provider’s stock after purchasing an additional 5,011 shares during the period. Kentucky Retirement Systems’ holdings in Truist Financial were worth $4,521,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Truist Financial by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 120,881,812 shares of the insurance provider’s stock worth $5,263,194,000 after purchasing an additional 1,044,192 shares during the last quarter. BlackRock Inc. increased its stake in shares of Truist Financial by 3.6% during the 3rd quarter. BlackRock Inc. now owns 100,049,345 shares of the insurance provider’s stock worth $4,356,148,000 after purchasing an additional 3,443,946 shares during the last quarter. State Street Corp increased its stake in shares of Truist Financial by 1.0% during the 3rd quarter. State Street Corp now owns 59,714,752 shares of the insurance provider’s stock worth $2,599,980,000 after purchasing an additional 581,532 shares during the last quarter. Dodge & Cox grew its stake in Truist Financial by 12.4% in the 2nd quarter. Dodge & Cox now owns 19,105,325 shares of the insurance provider’s stock valued at $906,166,000 after buying an additional 2,110,333 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Truist Financial by 2.1% in the 2nd quarter. Northern Trust Corp now owns 16,142,238 shares of the insurance provider’s stock valued at $765,627,000 after buying an additional 326,545 shares in the last quarter. Hedge funds and other institutional investors own 72.49% of the company’s stock.
Truist Financial Stock Performance
NYSE TFC opened at $31.88 on Wednesday. Truist Financial Co. has a 52-week low of $30.51 and a 52-week high of $61.10. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 0.81. The company has a market capitalization of $42.33 billion, a P/E ratio of 7.20, a P/E/G ratio of 1.01 and a beta of 1.10. The company has a fifty day moving average of $46.64 and a 200-day moving average of $45.29.
Truist Financial Announces Dividend
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on TFC shares. StockNews.com lowered shares of Truist Financial from a “buy” rating to a “hold” rating in a research note on Thursday, November 24th. Wells Fargo & Company reduced their price objective on shares of Truist Financial to $57.00 in a research note on Wednesday, December 14th. TheStreet upgraded shares of Truist Financial from a “c+” rating to a “b-” rating in a research note on Monday, January 23rd. Stephens lowered shares of Truist Financial from an “overweight” rating to an “equal weight” rating and set a $53.00 price objective for the company. in a research note on Tuesday, January 31st. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Truist Financial from a “buy” rating to a “hold” rating and reduced their price objective for the company from $61.00 to $48.00 in a research note on Friday, January 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $51.58.
Insider Transactions at Truist Financial
In other news, insider Hugh S. Cummins III sold 35,229 shares of Truist Financial stock in a transaction on Friday, January 27th. The shares were sold at an average price of $49.05, for a total transaction of $1,727,982.45. Following the completion of the sale, the insider now directly owns 307,069 shares of the company’s stock, valued at approximately $15,061,734.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Truist Financial news, insider Hugh S. Cummins III sold 35,229 shares of the business’s stock in a transaction on Friday, January 27th. The shares were sold at an average price of $49.05, for a total value of $1,727,982.45. Following the completion of the sale, the insider now directly owns 307,069 shares of the company’s stock, valued at $15,061,734.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David M. Ratcliffe purchased 13,125 shares of the stock in a transaction on Friday, March 10th. The stock was acquired at an average cost of $38.08 per share, with a total value of $499,800.00. Following the completion of the purchase, the director now directly owns 39,025 shares of the company’s stock, valued at $1,486,072. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by insiders.
About Truist Financial
Truist Financial Corp. is a financial holding company, which engages in the provision of banking services to individuals, businesses, and municipalities. It operates through the following segments: Consumer Banking and Wealth, Corporate and Commercial Banking, Insurance Holdings, and Other, Treasury & Corporate.
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