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

Robeco Institutional Asset Management B.V. lifted its holdings in shares of Truist Financial Co. (NYSE:TFC – Get Rating) by 8.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 370,277 shares of the insurance provider’s stock after acquiring 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.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Toroso Investments LLC boosted its holdings in Truist Financial by 7.2% during the third quarter. Toroso Investments LLC now owns 14,760 shares of the insurance provider’s stock worth $643,000 after purchasing an additional 994 shares during the last quarter. Continental Investors Services Inc. purchased a new position in Truist Financial during the third quarter worth about $256,000. IHT Wealth Management LLC boosted its holdings in Truist Financial by 38.1% during the third quarter. IHT Wealth Management LLC now owns 19,152 shares of the insurance provider’s stock worth $834,000 after purchasing an additional 5,287 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in Truist Financial by 71.5% during the third quarter. B. Riley Wealth Advisors Inc. now owns 36,740 shares of the insurance provider’s stock worth $1,601,000 after purchasing an additional 15,321 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in Truist Financial during the third quarter worth about $5,497,000. 72.49% of the stock is owned by institutional investors.

Truist Financial Stock Performance

Shares of TFC stock opened at $30.56 on Friday. The stock has a market capitalization of $40.59 billion, a P/E ratio of 6.90, a PEG ratio of 1.33 and a beta of 1.10. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The firm’s 50 day moving average is $45.85 and its 200 day moving average is $44.99. Truist Financial Co. has a 12 month low of $28.70 and a 12 month high of $61.10.

Truist Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TFC shares. StockNews.com started coverage on shares of Truist Financial in a report on Thursday. They set a “hold” rating on the stock. Wells Fargo & Company cut their price target on shares of Truist Financial to $57.00 in a report on Wednesday, December 14th. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and set a $53.00 target price on the stock in a research note on Monday, March 13th. Deutsche Bank Aktiengesellschaft cut shares of Truist Financial from a “buy” rating to a “hold” rating and dropped their target price for the company from $61.00 to $48.00 in a research note on Friday, January 6th. Finally, Morgan Stanley dropped their target price on shares of Truist Financial from $59.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Friday, January 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Truist Financial currently has a consensus rating of “Hold” and an average price target of $51.58.

Insider Buying and Selling

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

Truist Financial Company 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.