IFM Investors Pty Ltd lifted its position in Truist Financial Co. (NYSE:TFC) by 17.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 129,719 shares of the insurance provider’s stock after buying an additional 19,236 shares during the quarter. IFM Investors Pty Ltd’s holdings in Truist Financial were worth $6,217,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Thomasville National Bank raised its stake in shares of Truist Financial by 1.0% in the 4th quarter. Thomasville National Bank now owns 423,282 shares of the insurance provider’s stock worth $20,288,000 after buying an additional 3,997 shares in the last quarter. Radnor Capital Management LLC raised its position in shares of Truist Financial by 1.9% during the fourth quarter. Radnor Capital Management LLC now owns 10,219 shares of the insurance provider’s stock worth $490,000 after purchasing an additional 194 shares during the period. MUFG Securities EMEA plc acquired a new stake in shares of Truist Financial during the third quarter worth $7,800,000. Ossiam raised its position in shares of Truist Financial by 18.8% during the third quarter. Ossiam now owns 64,465 shares of the insurance provider’s stock worth $2,453,000 after purchasing an additional 10,190 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Truist Financial by 10.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 216,577 shares of the insurance provider’s stock worth $7,925,000 after purchasing an additional 20,728 shares during the period. 73.36% of the stock is currently owned by institutional investors.

A number of brokerages have recently issued reports on TFC. Barclays boosted their target price on Truist Financial from $47.00 to $59.00 in a research report on Monday, January 4th. Credit Suisse Group boosted their target price on Truist Financial from $4.25 to $52.00 in a research report on Friday, December 11th. Deutsche Bank Aktiengesellschaft lifted their price target on Truist Financial from $46.00 to $56.00 in a report on Wednesday, January 6th. ValuEngine upgraded Truist Financial from a “sell” rating to a “hold” rating in a report on Tuesday, November 10th. Finally, Raymond James lifted their price target on Truist Financial from $46.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, January 7th. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $48.25.

NYSE TFC opened at $52.08 on Thursday. Truist Financial Co. has a twelve month low of $24.01 and a twelve month high of $56.53. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.91 and a current ratio of 0.93. The stock has a market capitalization of $70.21 billion, a PE ratio of 17.71, a P/E/G ratio of 1.43 and a beta of 1.40. The stock has a 50-day simple moving average of $47.93 and a 200 day simple moving average of $41.94.

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 consensus estimate of $0.88 by $0.09. Truist Financial had a return on equity of 7.76% and a net margin of 16.95%. The firm had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the prior year, the firm posted $0.95 EPS. The company’s revenue for the quarter was up 85.1% on a year-over-year basis. As a group, equities research analysts forecast that Truist Financial Co. will post 3.52 EPS for the current fiscal year.

In other Truist Financial news, EVP Kimberly Moore-Wright sold 1,398 shares of the stock in a transaction on Friday, November 6th. The stock was 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 SEC, which can be accessed through this hyperlink. Also, Director K. David Jr. Boyer sold 3,221 shares of the stock in a transaction on Wednesday, December 9th. The shares were sold at an average price of $47.72, for a total value of $153,706.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,387 shares of company stock worth $342,162. 0.35% of the stock is owned by corporate insiders.

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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