What Does Davenport & Co LLC's Move Mean for TransUnion (NYSE:TRU)?

February 05, 2025 02:29 AM PST | By Team Kalkine Media

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What Does Davenport & Co LLC's Move Mean for TransUnion (NYSE:TRU)? — Image source: Shutterstock

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Highlights

Davenport & Co LLC reduced its position in TransUnion (NYSE:TRU) by 8.9%.

Several other institutional investors adjusted their stakes in the business services provider.

TransUnion continues to see activity from various hedge funds and financial services firms.

Introduction to the Sector

TransUnion operates within the financial services sector, specifically focusing on providing credit information and information management services. This industry plays a crucial role in helping individuals, businesses, and governments make informed decisions related to lending, creditworthiness, and risk assessment. Businesses like TransUnion offer products that include credit reports, fraud protection, and identity verification, enabling better decision-making processes in various sectors, including banking, insurance, and government services.

Davenport & Co LLC Adjusts Stake

Davenport & Co LLC, a financial services firm, recently disclosed a change in its holdings related to TransUnion (NYSE:TRU). The firm reduced its stake in the company by 8.9% during the most recent quarter. The transaction resulted in Davenport & Co LLC owning approximately 30,513 shares of TransUnion, which had an estimated value of $2.83 million at the time of the filing. This adjustment comes after the firm sold 2,974 shares in the business services provider.

The firm’s decision to lower its stake in TransUnion is part of a broader trend seen across several institutional investors. Stake adjustments are common in the financial sector as firms periodically reassess their holdings based on changing market conditions and strategic goals.

Activity from Other Institutional Investors

Davenport & Co LLC is not alone in adjusting its position in TransUnion. Several other institutional investors and hedge funds have made similar moves. Townsquare Capital LLC, for example, increased its stake in TransUnion by 1% during the previous quarter. The firm now holds just over 10,000 shares, valued at approximately $1.07 million. This suggests a more cautious approach as Townsquare Capital LLC opts for modest adjustments in its holdings rather than large-scale moves.

Meanwhile, Signaturefd LLC made a more significant adjustment, increasing its holdings in TransUnion by 15% during the same period. As of the latest reports, Signaturefd LLC owns around 788 shares, which are valued at approximately $83,000. The firm’s decision to increase its stake indicates a shift toward strengthening its position in the business services provider, albeit in a smaller capacity.

Huntington National Bank made a notable change, raising its position in TransUnion by 84.5%. The firm now owns 286 shares valued at around $30,000. This substantial increase in its holdings may reflect Huntington National Bank’s confidence in TransUnion, as it continues to add shares to its portfolio.

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