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

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

Several other hedge funds also recently bought and sold shares of the company. Norden Group LLC purchased a new position in shares of Truist Financial during the 1st quarter valued at $2,351,000. Nordea Investment Management AB grew its position in Truist Financial by 44.4% during the first quarter. Nordea Investment Management AB now owns 2,712,848 shares of the insurance provider’s stock worth $105,353,000 after buying an additional 834,048 shares in the last quarter. CreativeOne Wealth LLC bought a new position in Truist Financial in the 1st quarter worth about $516,000. M&G Plc purchased a new stake in shares of Truist Financial in the 2nd quarter valued at about $2,804,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Truist Financial by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock valued at $346,957,000 after acquiring an additional 299,196 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

TFC has been the topic of several research analyst reports. 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 research report on Wednesday, October 16th. Stephens restated an “overweight” rating and set a $50.00 price objective on shares of Truist Financial in a research report on Tuesday, September 10th. Compass Point upped their target price on shares of Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Baird R W downgraded Truist Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Truist Financial currently has a consensus rating of “Hold” and an average target price of $46.02.

Truist Financial Stock Up 0.5 %

Shares of NYSE TFC opened at $43.31 on Thursday. The firm has a fifty day simple moving average of $42.83 and a two-hundred day simple moving average of $40.59. The firm has a market capitalization of $58.00 billion, a PE ratio of -30.29, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 12 month low of $27.88 and a 12 month high of $45.31.

Truist Financial Announces Dividend

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

Truist Financial 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.