IFM Investors Pty Ltd Grows Stock Position in Truist Financial Co. (NYSE:TFC)


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IFM Investors Pty Ltd lifted its stake in Truist Financial Co. (NYSE:TFC) by 17.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 129,719 shares of the insurance provider’s stock after buying an additional 19,236 shares during the period. IFM Investors Pty Ltd’s holdings in Truist Financial were worth $6,217,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Truist Financial by 37.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 48,473,224 shares of the insurance provider’s stock valued at $1,793,995,000 after purchasing an additional 13,312,350 shares during the period. Prudential PLC grew its holdings in shares of Truist Financial by 15,535.7% during the 3rd quarter. Prudential PLC now owns 2,189,001 shares of the insurance provider’s stock worth $83,291,000 after acquiring an additional 2,175,001 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of Truist Financial by 21.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 9,204,265 shares of the insurance provider’s stock worth $345,621,000 after acquiring an additional 1,613,095 shares during the period. Boston Partners grew its holdings in shares of Truist Financial by 7.7% during the 3rd quarter. Boston Partners now owns 16,542,627 shares of the insurance provider’s stock worth $629,446,000 after acquiring an additional 1,187,986 shares during the period. Finally, Azora Capital LP purchased a new position in shares of Truist Financial during the 3rd quarter worth approximately $22,899,000. Hedge funds and other institutional investors own 73.36% of the company’s stock.

In other Truist Financial news, VP Brantley J. Standridge sold 1,500 shares of the stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $45.10, for a total value of $67,650.00. Following the completion of the sale, the vice president now owns 12,510 shares in the company, valued at approximately $564,201. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director K. David Jr. Boyer sold 3,221 shares of the stock in a transaction on Wednesday, December 9th. The stock was 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. Insiders sold a total of 7,387 shares of company stock valued at $342,162 in the last quarter. 0.35% of the stock is currently owned by company insiders.

A number of brokerages have recently commented on TFC. Bank of America dropped their price target on Truist Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, October 16th. Keefe, Bruyette & Woods cut Truist Financial from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $49.00 to $50.00 in a research report on Thursday, November 19th. Credit Suisse Group upped their price objective on Truist Financial from $4.25 to $52.00 in a research report on Friday, December 11th. JPMorgan Chase & Co. upped their price objective on Truist Financial from $40.00 to $43.50 in a research report on Tuesday, October 6th. Finally, Morgan Stanley upped their price objective on Truist Financial from $42.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, November 30th. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Truist Financial has an average rating of “Hold” and a consensus target price of $48.25.

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

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Thursday, October 15th. The insurance provider reported $0.97 EPS for the quarter, topping 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 analyst estimates of $5.48 billion. During the same period in the prior year, the business posted $0.95 EPS. Truist Financial’s revenue was up 85.1% on a year-over-year basis. On average, equities research analysts expect that Truist Financial Co. will post 3.52 earnings per share for the current fiscal year.

About Truist Financial

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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