New York State Teachers Retirement System Sells 41,287 Shares of Truist Financial Co. (NYSE:TFC)

New York State Teachers Retirement System lowered its holdings in shares of Truist Financial Co. (NYSE:TFC) by 3.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,071,214 shares of the insurance provider’s stock after selling 41,287 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Truist Financial worth $45,816,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Capital International Investors boosted its stake in Truist Financial by 93.7% during the first quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock worth $453,854,000 after acquiring an additional 5,632,493 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Truist Financial by 316.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock worth $90,585,000 after purchasing an additional 1,609,351 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Truist Financial by 48.9% during the 1st quarter. Jennison Associates LLC now owns 3,840,374 shares of the insurance provider’s stock worth $149,698,000 after purchasing an additional 1,261,598 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Truist Financial by 44.4% in the 1st quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock valued at $105,353,000 after buying an additional 834,048 shares during the period. Finally, Swedbank AB bought a new stake in Truist Financial in the 1st quarter valued at about $29,957,000. 71.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods raised their price objective on Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Baird R W downgraded shares of Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. upped their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Bank of America lifted their price objective on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, The Goldman Sachs Group dropped their price target on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $46.02.

Truist Financial Trading Up 0.5 %

Shares of Truist Financial stock opened at $43.31 on Thursday. The stock has a market capitalization of $58.00 billion, a P/E ratio of -30.29, a P/E/G ratio of 1.77 and a beta of 1.05. Truist Financial Co. has a 52-week low of $27.88 and a 52-week high of $45.31. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s 50-day simple moving average is $42.83 and its 200 day simple moving average is $40.59.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date is Friday, November 8th. Truist Financial’s payout ratio is currently -145.45%.

Truist Financial Company Profile

Truist Financial Corporation, a financial services company, provides banking and trust services 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.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.