Sat Sep 21 11:36:57 UTC 2024: ## Mercer Global Advisors Increases Stake in Truist Financial
**New York, NY – September 21st, 2024** – Mercer Global Advisors Inc. ADV, a prominent investment firm, has increased its holdings in Truist Financial Co. (NYSE:TFC) by 10.2% during the second quarter, according to HoldingsChannel.com.
The fund now owns 194,219 shares of the insurance provider’s stock, worth approximately $7,545,000. This move signals a positive outlook on the company, as Mercer Global Advisors joined a chorus of other institutional investors who have recently made significant moves in Truist Financial.
Parnassus Investments LLC acquired a new position in the company worth $95,049,000 during the fourth quarter, while Rafferty Asset Management LLC increased its stake by 47.7% during the same period.
Other notable investors include the Treasurer of the State of North Carolina, who increased its stake by 4.1% in the fourth quarter, and Nordea Investment Management AB, which boosted its stake by 44.4% in the first quarter.
Overall, institutional investors and hedge funds currently own 71.28% of Truist Financial’s stock, underscoring the company’s attractiveness in the market.
Truist Financial, a leading financial services company, offers banking and trust services across the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.
Despite recent market fluctuations, Truist Financial continues to perform well. The company recently announced a quarterly dividend of $0.52 per share, representing a 4.91% yield.
While analysts have varying opinions on Truist Financial’s future prospects, the overall sentiment remains cautiously optimistic, with a consensus rating of “Hold” and an average target price of $45.45.
First Piper 