Billionaire Ken Griffin is Selling These 5 Stocks

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In this article, we will discuss the 5 stocks that Ken Griffin is selling. If you want to read our detailed analysis of Ken Griffin’s hedge fund and its performance over the years, go directly to read Billionaire Ken Griffin is Selling These 10 Stocks

5. Truist Financial Corporation (NYSE:TFC)

Number of Hedge Fund Holders: 39

Truist Financial Corporation (NYSE:TFC), an American bank holding company, was recently appreciated at Citigroup due to its growing insurance business. The firm lifted its price target on the stock to $72, while upgrading it to Buy from Neutral.

Ken Griffin’s fund sold its entire stake in the company in the third quarter. However, by the end of Q2, 39 hedge funds tracked by Insider Monkey held positions in Truist Financial Corporation (NYSE:TFC), up from 36 in the previous quarter. These stakes are valued at over $1 billion, compared with the value of $845.8 million in Q1.

On October 26, Truist Financial Corporation (NYSE:TFC) declared a quarterly dividend of $0.26 per share. The stock’s current dividend yield stands at 2.97%. In its Q3 earnings, the company posted an EPS of $1.42, beating the estimates by $0.22. Moreover, Truist Financial Corporation (NYSE:TFC) reported revenue of $5.63 billion, driven by insurance, investment banking, and residential mortgage banking. The stock gained 29.09% in the past year.

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