11,677 Shares in Truist Financial Corporation (NYSE:TFC) Acquired by Benin Management CORP

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Benin Management CORP acquired a new position in Truist Financial Corporation (NYSE:TFC) in the fourth quarter, Holdings Channel reports. The fund acquired 11,677 shares of the insurance provider’s stock, valued at approximately $658,000.

A number of other large investors have also modified their holdings of TFC. Massachusetts Financial Services Co. MA increased its position in shares of Truist Financial by 2.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 29,799,250 shares of the insurance provider’s stock worth $1,590,386,000 after purchasing an additional 790,879 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of Truist Financial by 4.3% during the second quarter. Macquarie Group Ltd. now owns 15,426,112 shares of the insurance provider’s stock worth $757,885,000 after purchasing an additional 633,529 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Truist Financial by 3.9% during the second quarter. Royal Bank of Canada now owns 8,082,503 shares of the insurance provider’s stock valued at $397,092,000 after buying an additional 301,500 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Truist Financial by 16,903.9% during the second quarter. Nuveen Asset Management LLC now owns 3,602,446 shares of the insurance provider’s stock valued at $176,988,000 after buying an additional 3,581,260 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in shares of Truist Financial by 0.6% during the third quarter. Parametric Portfolio Associates LLC now owns 2,210,303 shares of the insurance provider’s stock valued at $117,964,000 after buying an additional 12,504 shares during the last quarter. 72.09% of the stock is owned by institutional investors.

In related news, CEO Kelly S. King sold 201,806 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $54.22, for a total transaction of $10,941,921.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Donta L. Wilson sold 10,656 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $54.66, for a total transaction of $582,456.96. Following the transaction, the vice president now owns 4,044 shares of the company’s stock, valued at approximately $221,045.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 225,327 shares of company stock valued at $12,227,882. Insiders own 0.49% of the company’s stock.

Shares of Truist Financial stock opened at $56.36 on Friday. The firm has a 50-day simple moving average of $55.91 and a two-hundred day simple moving average of $52.43. The company has a market cap of $43.13 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 1.78 and a beta of 1.18. Truist Financial Corporation has a fifty-two week low of $44.51 and a fifty-two week high of $56.92. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.84 and a current ratio of 0.85.

TFC has been the topic of several recent research reports. Janney Montgomery Scott lowered shares of Truist Financial from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Jefferies Financial Group raised shares of Truist Financial from a “hold” rating to a “buy” rating and upped their price target for the company from $52.00 to $58.00 in a report on Tuesday, October 8th. Goldman Sachs Group initiated coverage on shares of Truist Financial in a report on Monday, December 9th. They issued a “buy” rating on the stock. ValuEngine raised shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Morgan Stanley initiated coverage on shares of Truist Financial in a report on Thursday, December 19th. They issued an “equal weight” rating and a $56.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $55.85.

Truist Financial Profile

Truist Financial Corp., formerly BB&T, is a bank holding company based in Charlotte, North Carolina. Its bank operates 2,049 branches in 15 states and Washington, DC, and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.

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

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