Merit Financial Group LLC reduced its stake in shares of Truist Financial Co. (NYSE:TFC – Get Rating) by 17.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,210 shares of the insurance provider’s stock after selling 2,408 shares during the quarter. Merit Financial Group LLC’s holdings in Truist Financial were worth $482,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. raised its stake in 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 buying an additional 3,443,946 shares during the period. Federated Hermes Inc. increased its holdings in shares of Truist Financial by 125.0% in the second quarter. Federated Hermes Inc. now owns 4,964,809 shares of the insurance provider’s stock worth $235,480,000 after acquiring an additional 2,758,668 shares in the last quarter. Capital World Investors raised its position in shares of Truist Financial by 585.1% during the first quarter. Capital World Investors now owns 2,712,800 shares of the insurance provider’s stock worth $153,816,000 after purchasing an additional 2,316,800 shares during the period. Dodge & Cox raised its position in shares of Truist Financial by 12.4% during the second quarter. Dodge & Cox now owns 19,105,325 shares of the insurance provider’s stock worth $906,166,000 after purchasing an additional 2,110,333 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Truist Financial by 12,790.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,959,251 shares of the insurance provider’s stock valued at $85,306,000 after purchasing an additional 1,944,052 shares in the last quarter. 72.49% of the stock is owned by institutional investors.
Truist Financial Trading Up 1.0 %
Truist Financial stock opened at $32.89 on Friday. The stock has a 50-day simple moving average of $44.44 and a 200 day simple moving average of $44.49. The stock has a market capitalization of $43.68 billion, a P/E ratio of 7.42, a PEG ratio of 1.35 and a beta of 1.10. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 0.81. Truist Financial Co. has a 52 week low of $28.70 and a 52 week high of $61.10.
Truist Financial Dividend Announcement
Wall Street Analysts Forecast Growth
Several brokerages have commented on TFC. Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday, March 15th. Wells Fargo & Company dropped their price objective on shares of Truist Financial to $57.00 in a report on Wednesday, December 14th. Stephens lowered shares of Truist Financial from an “overweight” rating to an “equal weight” rating and set a $53.00 target price for the company. in a research note on Tuesday, January 31st. StockNews.com initiated coverage on Truist Financial in a report on Thursday, March 16th. They set a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft lowered Truist Financial from a “buy” rating to a “hold” rating and cut their price target for the company from $61.00 to $48.00 in a report on Friday, January 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Truist Financial presently has an average rating of “Hold” and an average price target of $51.25.
Insider Buying and Selling
In other Truist Financial news, insider Hugh S. Cummins III sold 35,229 shares of the firm’s stock in a transaction on Friday, January 27th. The stock was 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 owns 307,069 shares of the company’s stock, valued at approximately $15,061,734.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Hugh S. Cummins III sold 35,229 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 307,069 shares in the company, valued at approximately $15,061,734.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David M. Ratcliffe purchased 13,125 shares of the stock in a transaction on Friday, March 10th. The stock was bought at an average cost of $38.08 per share, for a total transaction of $499,800.00. Following the completion of the acquisition, the director now owns 39,025 shares in the company, valued at $1,486,072. The disclosure for this purchase can be found here. 0.31% of the stock is 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.
Read More
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