Truist Financial Co. (NYSE:TFC) Stake Lessened by California State Teachers Retirement System

California State Teachers Retirement System lessened its stake in Truist Financial Co. (NYSE:TFCGet Rating) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,252,173 shares of the insurance provider’s stock after selling 19,945 shares during the period. California State Teachers Retirement System owned about 0.17% of Truist Financial worth $98,060,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TFC. Fairfield Bush & CO. bought a new stake in Truist Financial during the first quarter valued at $25,000. Newbridge Financial Services Group Inc. increased its stake in Truist Financial by 555.8% during the third quarter. Newbridge Financial Services Group Inc. now owns 623 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 528 shares during the last quarter. Webster Bank N. A. increased its stake in Truist Financial by 88.5% during the third quarter. Webster Bank N. A. now owns 639 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 300 shares during the last quarter. Western Pacific Wealth Management LP bought a new stake in Truist Financial during the third quarter valued at $35,000. Finally, NuWave Investment Management LLC bought a new stake in Truist Financial during the third quarter valued at $40,000. Institutional investors own 72.49% of the company’s stock.

Truist Financial Stock Performance

TFC stock opened at $32.10 on Thursday. 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 quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $42.63 billion, a P/E ratio of 7.25, a PEG ratio of 1.01 and a beta of 1.10. The company has a 50-day simple moving average of $46.38 and a 200 day simple moving average of $45.20.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 6.48%. The ex-dividend date was Thursday, February 9th. Truist Financial’s payout ratio is 46.95%.

Wall Street Analysts Forecast Growth

TFC has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lowered shares of Truist Financial from a “buy” rating to a “hold” rating and lowered their target price for the company from $61.00 to $48.00 in a research note on Friday, January 6th. Jefferies Financial Group raised shares of Truist Financial from a “hold” rating to a “buy” rating in a report on Monday, January 9th. TheStreet raised shares of Truist Financial from a “c+” rating to a “b-” rating in a report on Monday, January 23rd. Morgan Stanley reduced their price target on shares of Truist Financial from $59.00 to $56.00 and set an “equal weight” rating for the company in a report on Friday, January 20th. Finally, Wells Fargo & Company reduced their price target on shares of Truist Financial to $57.00 in a report on Wednesday, December 14th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $51.58.

Insider Buying and Selling at Truist Financial

In other Truist Financial news, Director David M. Ratcliffe purchased 13,125 shares of the business’s stock in a transaction on Friday, March 10th. The stock was bought at an average cost of $38.08 per share, with a total value of $499,800.00. Following the acquisition, the director now owns 39,025 shares of the company’s stock, valued at $1,486,072. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Truist Financial news, Director David M. Ratcliffe purchased 13,125 shares of the business’s stock in a transaction on Friday, March 10th. The stock was bought at an average cost of $38.08 per share, with a total value of $499,800.00. Following the acquisition, the director now owns 39,025 shares of the company’s stock, valued at $1,486,072. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Hugh S. Cummins III sold 35,229 shares of the business’s stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $49.05, for a total value of $1,727,982.45. Following the sale, the insider now owns 307,069 shares in the company, valued at approximately $15,061,734.45. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

About Truist Financial

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding TFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Truist Financial Co. (NYSE:TFCGet Rating).

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

Receive News & Ratings for Truist Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Truist Financial and related companies with MarketBeat.com's FREE daily email newsletter.