Benin Management CORP Invests $658,000 in Truist Financial Corporation (NYSE:TFC)

Benin Management CORP purchased a new position in Truist Financial Corporation (NYSE:TFC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,677 shares of the insurance provider’s stock, valued at approximately $658,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC raised its holdings in Truist Financial by 0.4% in the 3rd quarter. Wealthfront Advisers LLC now owns 54,805 shares of the insurance provider’s stock worth $2,925,000 after purchasing an additional 194 shares during the period. Gradient Investments LLC raised its holdings in Truist Financial by 6.9% in the 3rd quarter. Gradient Investments LLC now owns 3,106 shares of the insurance provider’s stock worth $166,000 after purchasing an additional 200 shares during the period. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in Truist Financial by 2.1% in the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 9,552 shares of the insurance provider’s stock worth $510,000 after purchasing an additional 200 shares during the period. Ellis Investment Partners LLC raised its holdings in Truist Financial by 20.5% in the 3rd quarter. Ellis Investment Partners LLC now owns 1,309 shares of the insurance provider’s stock worth $68,000 after purchasing an additional 223 shares during the period. Finally, NuWave Investment Management LLC raised its holdings in Truist Financial by 19.1% in the 3rd quarter. NuWave Investment Management LLC now owns 1,391 shares of the insurance provider’s stock worth $71,000 after purchasing an additional 223 shares during the period. Hedge funds and other institutional investors own 72.09% of the company’s stock.

NYSE:TFC opened at $56.36 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.87. The business’s 50-day simple moving average is $55.91 and its two-hundred day simple moving average is $52.43. The stock has a market cap of $43.13 billion, a PE ratio of 14.16, a P/E/G ratio of 1.78 and a beta of 1.18. Truist Financial Corporation has a 52 week low of $44.51 and a 52 week high of $56.92.

A number of equities analysts recently commented on TFC shares. Bank of America raised their target price on Truist Financial from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, October 18th. UBS Group decreased their target price on Truist Financial from $53.00 to $52.00 and set a “neutral” rating on the stock in a report on Monday, October 21st. ValuEngine raised Truist Financial from a “sell” rating to a “hold” rating in a report on Tuesday. Citigroup raised their target price on Truist Financial from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Finally, Goldman Sachs Group started coverage on Truist Financial in a report on Monday, December 9th. They issued a “buy” rating on the stock. Eight investment 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 a consensus price target of $55.85.

In other Truist Financial news, VP Brantley J. Standridge sold 8,580 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $54.90, for a total transaction of $471,042.00. Following the sale, the vice president now directly owns 12,059 shares of the company’s stock, valued at $662,039.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas E. Skains sold 4,285 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $54.25, for a total value of $232,461.25. Following the sale, the director now directly owns 30,753 shares in the company, valued at $1,668,350.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 225,327 shares of company stock worth $12,227,882. Insiders own 0.49% of the company’s stock.

Truist Financial Company 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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