Global Retirement Partners LLC increased its position in shares of Truist Financial Corporation (NYSE:TFC) by 3.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,665 shares of the insurance provider’s stock after buying an additional 1,125 shares during the quarter. Global Retirement Partners LLC’s holdings in Truist Financial were worth $1,339,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TFC. BlackRock Inc. boosted its holdings in Truist Financial by 1.8% during the first quarter. BlackRock Inc. now owns 93,876,594 shares of the insurance provider’s stock valued at $2,895,152,000 after purchasing an additional 1,701,248 shares in the last quarter. Capital International Investors boosted its holdings in Truist Financial by 121.4% during the first quarter. Capital International Investors now owns 63,154,235 shares of the insurance provider’s stock valued at $1,947,677,000 after purchasing an additional 34,627,221 shares in the last quarter. Bank of America Corp DE acquired a new stake in Truist Financial during the fourth quarter valued at approximately $2,666,761,000. Massachusetts Financial Services Co. MA boosted its holdings in Truist Financial by 6.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 35,568,360 shares of the insurance provider’s stock valued at $1,096,929,000 after purchasing an additional 2,238,236 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Truist Financial by 32.0% during the first quarter. Wellington Management Group LLP now owns 19,923,307 shares of the insurance provider’s stock valued at $614,435,000 after purchasing an additional 4,828,457 shares in the last quarter. 72.03% of the stock is currently owned by institutional investors and hedge funds.

In other Truist Financial news, VP Brantley J. Standridge sold 4,800 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $31.82, for a total transaction of $152,736.00. Following the completion of the sale, the vice president now owns 14,010 shares in the company, valued at approximately $445,798.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ellen Koebler sold 10,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $31.97, for a total transaction of $319,700.00. Following the sale, the insider now owns 16,859 shares of the company’s stock, valued at approximately $538,982.23. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

A number of research analysts have recently issued reports on TFC shares. Morgan Stanley lifted their target price on shares of Truist Financial from $37.00 to $39.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. Compass Point lifted their target price on shares of Truist Financial from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Wells Fargo & Co lifted their target price on shares of Truist Financial from $40.00 to $51.00 in a research note on Friday, June 5th. UBS Group lifted their target price on shares of Truist Financial to $36.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Finally, Piper Sandler upgraded shares of Truist Financial from a “neutral” rating to an “overweight” rating and set a $41.00 target price for the company in a research note on Tuesday, April 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Truist Financial has a consensus rating of “Buy” and an average price target of $46.53.

Shares of Truist Financial stock opened at $35.20 on Tuesday. The firm has a fifty day moving average of $38.24 and a two-hundred day moving average of $42.10. The stock has a market capitalization of $48.17 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 1.30 and a beta of 1.45. Truist Financial Corporation has a 52 week low of $24.01 and a 52 week high of $56.92. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.98 and a current ratio of 0.99.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, April 20th. The insurance provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.54 by $0.33. The company had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Truist Financial had a net margin of 19.60% and a return on equity of 8.98%. The business’s revenue for the quarter was up 93.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 EPS. As a group, research analysts forecast that Truist Financial Corporation will post 3.3 EPS for the current fiscal year.

Truist Financial Profile

Truist Financial Corp., formerly BB&T, is a bank holding company based in Charlotte, North Carolina. Its bank operates 2,049 branches in 15 states and Washington, DC, and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.

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Institutional Ownership by Quarter for Truist Financial (NYSE:TFC)

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