Marshall Wace LLP Sells 186,458 Shares of Truist Financial Co. (NYSE:TFC)

Marshall Wace LLP lowered its position in Truist Financial Co. (NYSE:TFC – Get Rating) by 64.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,648 shares of the insurance provider’s stock after selling 186,458 shares during the period. Marshall Wace LLP’s holdings in Truist Financial were worth $4,515,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norris Perne & French LLP MI grew its holdings in shares of Truist Financial by 4.4% during the 2nd quarter. Norris Perne & French LLP MI now owns 4,767 shares of the insurance provider’s stock worth $226,000 after purchasing an additional 199 shares in the last quarter. Woodard & Co. Asset Management Group Inc. ADV increased its holdings in Truist Financial by 1.7% in the 2nd quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 12,996 shares of the insurance provider’s stock valued at $616,000 after buying an additional 216 shares during the period. Tompkins Financial Corp raised its position in shares of Truist Financial by 8.0% in the 3rd quarter. Tompkins Financial Corp now owns 3,246 shares of the insurance provider’s stock valued at $141,000 after buying an additional 241 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. lifted its holdings in shares of Truist Financial by 3.2% during the 3rd quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 8,071 shares of the insurance provider’s stock worth $351,000 after acquiring an additional 250 shares during the period. Finally, Fortis Advisors LLC boosted its position in shares of Truist Financial by 2.6% during the 3rd quarter. Fortis Advisors LLC now owns 10,228 shares of the insurance provider’s stock worth $445,000 after acquiring an additional 258 shares in the last quarter. 72.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TFC has been the subject of several recent analyst reports. Jefferies Financial Group upgraded Truist Financial from a “hold” rating to a “buy” rating in a research note on Monday, January 9th. StockNews.com cut Truist Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 24th. Keefe, Bruyette & Woods upgraded shares of Truist Financial from an “underperform” rating to a “market perform” rating and reduced their price target for the company from $47.00 to $45.00 in a research note on Sunday. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and set a $53.00 price objective for the company in a research report on Monday. Finally, Wells Fargo & Company cut their target price on shares of Truist Financial to $57.00 in a research report on Wednesday, December 14th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Truist Financial presently has an average rating of “Hold” and an average target price of $51.58.

Insider Activity at Truist Financial

In other Truist Financial news, insider Hugh S. Cummins III sold 35,229 shares of the stock in a transaction dated 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 directly 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 is accessible through this hyperlink. 0.31% of the stock is owned by company insiders.

Truist Financial Stock Performance

NYSE:TFC opened at $32.24 on Tuesday. 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 fifty-two week low of $30.51 and a fifty-two week high of $61.10. The company has a 50 day simple moving average of $46.87 and a two-hundred day simple moving average of $45.40. The company has a market capitalization of $42.81 billion, a PE ratio of 7.28, a P/E/G ratio of 1.01 and a beta of 1.10.

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date of this dividend was Thursday, February 9th. Truist Financial’s dividend payout ratio is presently 46.95%.

Truist Financial Profile

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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.