Redpoint Investment Management Pty Ltd increased its stake in shares of Truist Financial Co. (NYSE:TFC) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,786 shares of the insurance provider’s stock after acquiring an additional 437 shares during the quarter. Redpoint Investment Management Pty Ltd’s holdings in Truist Financial were worth $1,571,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of TFC. JPMorgan Chase & Co. boosted its stake in Truist Financial by 37.9% during the third quarter. JPMorgan Chase & Co. now owns 48,473,224 shares of the insurance provider’s stock worth $1,793,995,000 after acquiring an additional 13,312,350 shares in the last quarter. Prudential PLC raised its holdings in Truist Financial by 15,535.7% during the third quarter. Prudential PLC now owns 2,189,001 shares of the insurance provider’s stock worth $83,291,000 after buying an additional 2,175,001 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in Truist Financial by 21.2% during the second quarter. Nuveen Asset Management LLC now owns 9,204,265 shares of the insurance provider’s stock worth $345,621,000 after buying an additional 1,613,095 shares during the last quarter. Boston Partners raised its holdings in Truist Financial by 7.7% during the third quarter. Boston Partners now owns 16,542,627 shares of the insurance provider’s stock worth $629,446,000 after buying an additional 1,187,986 shares during the last quarter. Finally, Azora Capital LP acquired a new position in Truist Financial during the third quarter worth $22,899,000. 73.36% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have weighed in on TFC shares. Bank of America lowered their price objective on shares of Truist Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, October 16th. Jefferies Financial Group lowered shares of Truist Financial from a “buy” rating to a “hold” rating and raised their price target for the company from $48.00 to $55.00 in a research report on Thursday, January 7th. Credit Suisse Group raised their price target on shares of Truist Financial from $4.25 to $52.00 in a research report on Friday, December 11th. Truist lowered shares of Truist Financial from a “buy” rating to a “hold” rating in a research report on Thursday, January 7th. Finally, Keefe, Bruyette & Woods lowered shares of Truist Financial from an “outperform” rating to a “market perform” rating and raised their price target for the company from $49.00 to $50.00 in a research report on Thursday, November 19th. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $48.25.

NYSE:TFC opened at $52.08 on Thursday. The company has a fifty day moving average of $47.93 and a 200 day moving average of $41.94. Truist Financial Co. has a 52 week low of $24.01 and a 52 week high of $56.53. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $70.21 billion, a P/E ratio of 17.71, a P/E/G ratio of 1.43 and a beta of 1.40.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Thursday, October 15th. The insurance provider reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.09. Truist Financial had a net margin of 16.95% and a return on equity of 7.76%. The company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same period in the prior year, the business posted $0.95 EPS. The firm’s revenue was up 85.1% compared to the same quarter last year. As a group, analysts anticipate that Truist Financial Co. will post 3.52 EPS for the current year.

In other Truist Financial news, EVP Kimberly Moore-Wright sold 1,398 shares of the company’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $44.09, for a total value of $61,637.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director K. David Jr. Boyer sold 957 shares of the company’s stock in a transaction on Thursday, November 12th. The stock was sold at an average price of $46.80, for a total transaction of $44,787.60. Following the completion of the transaction, the director now owns 8,000 shares of the company’s stock, valued at $374,400. The disclosure for this sale can be found here. Insiders sold a total of 7,387 shares of company stock valued at $342,162 over the last 90 days. Company insiders own 0.35% of the company’s stock.

Truist Financial Profile

Truist Financial Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals 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.

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

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