Sun Sep 15 16:49:11 UTC 2024: ## DekaBank Increases Stake in Truist Financial: Hedge Funds Remain Active

**New York, NY – September 15, 2024** – DekaBank Deutsche Girozentrale, a German financial institution, has increased its stake in Truist Financial Co. (NYSE:TFC) by 1.2% in the second quarter, according to HoldingsChannel. The fund now owns 566,025 shares of the insurance provider, valued at $21.3 million.

This move follows a trend of other hedge funds adjusting their positions in Truist Financial. Capital Investment Counsel Inc. and Verum Partners LLC also increased their stakes, while CX Institutional and Coldstream Capital Management Inc. joined the ranks of investors who bolstered their holdings. Patriot Financial Group Insurance Agency LLC also saw its position grow.

Overall, hedge funds and other institutional investors now hold 71.28% of Truist Financial’s outstanding shares.

In addition to these institutional moves, insider transactions also took place during the quarter. VP Cynthia B. Powell sold 6,688 shares, while CEO William H. Rogers, Jr. purchased 57,300 shares.

Truist Financial’s recent earnings report, released on July 22nd, showed a profit of $0.91 per share, surpassing analyst expectations. The company’s revenue, however, fell 15.9% year-over-year.

Analysts are cautiously optimistic about Truist Financial’s future, with a consensus “Hold” rating and a target price of $45.45.

Truist Financial Corporation provides banking, trust, and insurance services in the Southeastern and Mid-Atlantic United States.

**To learn more about hedge fund activity in Truist Financial, visit HoldingsChannel.com.**

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