Robeco Institutional Asset Management B.V. Purchases 29,921 Shares of Truist Financial Co. (NYSE:TFC)

Robeco Institutional Asset Management B.V. boosted its position in shares of Truist Financial Co. (NYSE:TFC – Get Rating) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 370,277 shares of the insurance provider’s stock after purchasing an additional 29,921 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Truist Financial were worth $16,122,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Norris Perne & French LLP MI increased its holdings in 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. Tompkins Financial Corp boosted its stake in shares of Truist Financial by 8.0% during the 3rd quarter. Tompkins Financial Corp now owns 3,246 shares of the insurance provider’s stock worth $141,000 after buying an additional 241 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. boosted its stake 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 buying an additional 250 shares during the last quarter. Fortis Advisors LLC boosted its stake 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 buying an additional 258 shares during the last quarter. Finally, Rossmore Private Capital boosted its stake in shares of Truist Financial by 0.7% during the 3rd quarter. Rossmore Private Capital now owns 40,103 shares of the insurance provider’s stock worth $1,746,000 after buying an additional 260 shares during the last quarter. Institutional investors own 72.49% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective on shares of Truist Financial to $57.00 in a research note on Wednesday, December 14th. Morgan Stanley reduced their price objective on shares of Truist Financial from $59.00 to $56.00 and set an “equal weight” rating for the company in a research note on Friday, January 20th. TheStreet upgraded shares of Truist Financial from a “c+” rating to a “b-” rating in a research note on Monday, January 23rd. Citigroup upgraded shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Wednesday. Finally, StockNews.com initiated coverage on shares of Truist Financial in a research note on Thursday. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $51.58.

Truist Financial Stock Down 7.2 %

Truist Financial stock opened at $30.56 on Friday. Truist Financial Co. has a twelve month low of $28.70 and a twelve month high of $61.10. The company’s 50-day moving average price is $45.85 and its two-hundred day moving average price is $44.99. The stock has a market cap of $40.59 billion, a P/E ratio of 6.90, a P/E/G ratio of 1.33 and a beta of 1.10. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.80.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Friday, February 10th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $2.08 annualized dividend and a dividend yield of 6.81%. Truist Financial’s dividend payout ratio is presently 46.95%.

Insider Transactions at Truist Financial

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

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.