According to the most recent filing that the company made with the Securities and Exchange Commission, Pearl River Capital LLC increased its ownership of Truist Financial Co (NYSE: TFC) during the third quarter of 2018.
The investment fund purchased 22,416 shares in the insurance company at approximately $976,000.
On Friday, January 27, a business insider named Hugh S. Cummins III sold 35,229 shares of company stock.
This is just one of the latest developments relating to this topic.
The total number of shares sold was 1,727,982.45 for $49.05.
Each share sold for an average of its respective price.
A current insider of the company owns 307,069 shares of the company’s stock, which have a combined value of $15,061,734.45.
If you follow the link, which will take you to a legal file submitted to the SEC, you can acquire additional information regarding the transaction.
The company’s insiders hold 0.31 percent of the total number of shares that are currently outstanding.
There have been alterations made to the holdings of TFC by various institutional investors, including hedge funds, over the past few months.
In the first quarter of this year, Fairfield Bush & Co contributed $25,000 toward Truist Financial’s effort to fill a newly created position. Newbridge Financial Services Group INC increased the percentage of Truist Financial in which it was invested by 555.8% during the third quarter of the fiscal year.
The insurance provider’s stock has a current market value of $27,000 per share, and Newbridge Financial Services Group INC now owns a total of 623 shares of the company’s stock after purchasing an additional 528 shares during the period in question. Webster Bank and the National Association saw an increase of 88.5% in the percentage of Truist Financial shares that they owned during the third quarter. Webster Bank N.A. now has 639 shares of the insurance provider’s stock, valued at $28,000, thanks to the fact that it made an additional purchase of 300 shares during the period in question.
These shares were gradually obtained throughout the period.
In the third quarter, Western Pacific Wealth Management L.P.
Increased its ownership stake in Truist Financial by increasing its shareholdings in the company through the purchase of additional shares for a total cash outlay of approximately $35,000 And last but not least, during the third quarter, NuWave Investment Management LLC made a new holding investment in Truist Financial with a total value of approximately 40,000 dollars. Several analysts employed in equity research have covered the stock of TFC, and hedge funds and other institutional investors control 72.49 percent of the company’s shares.
Morgan Stanley decreased their price objective on Truist Financial shares from $59.00 to $56.00 and downgraded the company’s rating from “equal weight” to “underweight” in a research report published on Friday, January 20.
The recommendation regarding Truist Financial was changed from “hold” to “buy” in a research report made public by Jefferies Financial Group on Monday, January 9. Stephens downgraded Truist Financial from “overweight” to “equal weight” in a research report published on January 31, and they set a price target of $53.00 for the stock.
The report was issued with the company’s decision to lower the stock’s price target. StockNews.com changed the previous “buy” recommendation for Truist Financial to a “hold” rating in a research report published on November 24. Finally, in a research note published on January 6, Deutsche Bank Aktiengesellschaft decreased their price target on Truist Financial from $61.00 to $48.00 and downgraded the stock from a “buy” rating to a “hold” rating. One of the equity research analysts has given the stock of the company a rating of “sell,” while nine others have suggested that investors keep their existing holdings. Five others have given the stock a rating of “buy.” The stock has an average rating of “Hold,” The current consensus price objective is $51.91.
This information was obtained from Bloomberg.
The price of TFC was $44.08 when trading began on Wednesday on the New York Stock Exchange.
There is no difference between the quick, current, or debt-to-equity ratios; all three are equal to 0.80.
During the previous year, the price of a share of Truist Financial Co fluctuated between $40.01 and $61.10, reaching a low of $40.01 and a high of $61.10.
The current simple moving average for the company is $47.18.
This number accounts for both the past 50 days and the past 200 days.
The stock has a price-to-earnings ratio of 9.95, a price-to-earnings-growth ratio of 1.19, and a beta value of 1.10.
The market capitalization of the company is $58.53 billion.
Additionally, on March 1, the company announced and distributed a quarterly dividend, which was then paid to shareholders.
This dividend was paid out. Shareholders on the company’s books as of February 10 were eligible for a dividend payment of $0.52.
This results in a dividend yield of 4.72% each quarter and $2.08 per year when distributed annually.
Source: beststocks.com
