Is Truist Financial Co. (NYSE:TFC) Expanding Its Institutional Investor Base?

February 04, 2025 10:25 AM PST | By Team Kalkine Media

Is Truist Financial Co. (NYSE:TFC) Expanding Its Institutional Investor Base? — Image source: Shutterstock

Overview of Truist Financial Co.

Truist Financial Co. operates within the financial sector, offering a range of banking and insurance services. The company has a strong presence in the U.S. financial markets and continues to attract institutional investors, reflecting its stability and business growth potential.

Institutional Investor Movements

In recent months, Welch Group LLC made an incremental increase in its holdings in Truist Financial Co. by acquiring more shares during the 4th quarter. This move saw the firm owning a total of 1,247,422 shares, which constitutes about 2.4% of Welch Group LLC's portfolio. At the time of this transaction, these shares were valued at approximately $54 million.

Other institutional investors have also adjusted their positions in Truist Financial, with some raising their stakes by substantial amounts. State Street Corp, for example, increased its holdings in the company by 4.6% in the third quarter. This resulted in the firm holding over 61 million shares, valued at over $2.6 billion.

Notable Stake Increases

Assenagon Asset Management S.A. took a significant step in boosting its position in Truist Financial, increasing its holdings by over 300%. This move added over 1.6 million shares to the firm's portfolio, which is now valued at $90 million. Similarly, KBC Group NV also made a notable increase, adding nearly one million shares to its holdings in the 4th quarter. This brought the firm’s total position to over 2 million shares, valued at approximately $88 million.

HighTower Advisors LLC and LPL Financial LLC also contributed to the rise in institutional interest in Truist Financial. Both firms raised their stakes by around 26% and 21%, respectively, indicating continued support from institutional investors. HighTower Advisors now holds almost 3.9 million shares, valued at over $166 million, while LPL Financial has approximately 3.6 million shares worth around $155 million.

Influence of Institutional Investors

Institutional investors now account for a substantial portion of Truist Financial’s shareholder base, owning more than 71% of the company’s shares. The increase in institutional involvement highlights the confidence that large financial entities have in the company’s ongoing performance and market position.

Truist Financial continues to attract significant institutional interest, reflecting its importance within the broader financial sector. With institutional investors holding a majority of the company’s shares, Truist Financial has the backing of large, established firms that are closely monitoring its business developments and market standing.

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