Klingman & Associates LLC Has $580,000 Stake in Truist Financial Corporation $TFC

Klingman & Associates LLC boosted its position in shares of Truist Financial Corporation (NYSE:TFC) by 14.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 13,503 shares of the insurance provider’s stock after buying an additional 1,747 shares during the quarter. Klingman & Associates LLC’s holdings in Truist Financial were worth $580,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC purchased a new position in shares of Truist Financial during the first quarter valued at $25,000. Centennial Bank AR lifted its stake in Truist Financial by 360.2% in the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 580 shares in the last quarter. Princeton Global Asset Management LLC purchased a new position in Truist Financial during the 2nd quarter valued at about $30,000. Motco grew its stake in Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 649 shares in the last quarter. Finally, Ramirez Asset Management Inc. increased its holdings in shares of Truist Financial by 60.0% in the 2nd quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 300 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Truist Financial Stock Up 2.0%

TFC stock opened at $43.44 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06. The company has a fifty day simple moving average of $45.13 and a 200 day simple moving average of $42.32. The firm has a market cap of $56.01 billion, a PE ratio of 11.68, a PEG ratio of 1.36 and a beta of 0.88.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, topping the consensus estimate of $0.99 by $0.05. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.20 billion. During the same period in the prior year, the business posted $0.97 earnings per share. The business’s quarterly revenue was up 1.9% on a year-over-year basis. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Sell-side analysts anticipate that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.8%. The ex-dividend date was Friday, August 8th. Truist Financial’s payout ratio is 55.91%.

Analysts Set New Price Targets

Several analysts recently commented on TFC shares. Piper Sandler set a $48.00 price target on shares of Truist Financial in a report on Monday. Evercore ISI lifted their target price on shares of Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Truist Financial in a research note on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. Finally, Morgan Stanley boosted their target price on Truist Financial from $54.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.63.

Truist Financial Profile

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.