Aviva PLC Buys 50,678 Shares of Truist Financial Corporation $TFC

Aviva PLC lifted its stake in Truist Financial Corporation (NYSE:TFC) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 978,859 shares of the insurance provider’s stock after purchasing an additional 50,678 shares during the quarter. Aviva PLC owned 0.08% of Truist Financial worth $42,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its stake in shares of Truist Financial by 922.9% in the first quarter. Victory Capital Management Inc. now owns 6,664,320 shares of the insurance provider’s stock worth $274,237,000 after buying an additional 6,012,817 shares in the last quarter. Invesco Ltd. increased its position in shares of Truist Financial by 32.0% during the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock valued at $540,723,000 after acquiring an additional 3,188,999 shares in the last quarter. Nuveen LLC purchased a new position in Truist Financial in the 1st quarter worth approximately $117,929,000. American Century Companies Inc. lifted its position in Truist Financial by 21.8% in the 1st quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider’s stock valued at $495,509,000 after acquiring an additional 2,158,639 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in Truist Financial by 178.0% during the 1st quarter. National Bank of Canada FI now owns 2,289,868 shares of the insurance provider’s stock valued at $94,228,000 after purchasing an additional 1,466,236 shares during the last quarter. 71.28% of the stock is owned by hedge funds and other institutional investors.

Truist Financial Stock Up 1.6%

Shares of NYSE TFC opened at $44.71 on Monday. 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 12-month low of $33.56 and a 12-month high of $49.06. The firm’s 50-day moving average price is $44.80 and its 200-day moving average price is $43.16. The stock has a market capitalization of $57.20 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 1.20 and a beta of 0.92.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.05. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.20 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. The firm’s revenue for the quarter 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. On average, equities research analysts anticipate that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.7%. The ex-dividend date is Friday, November 14th. Truist Financial’s dividend payout ratio is presently 55.91%.

Analyst Ratings Changes

Several research analysts have recently weighed in on TFC shares. Evercore ISI boosted their price target on Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Wall Street Zen downgraded Truist Financial from a “hold” rating to a “sell” rating in a report on Saturday. Piper Sandler set a $48.00 target price on shares of Truist Financial in a research note on Monday, October 20th. Morgan Stanley raised their price target on shares of Truist Financial from $54.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, October 20th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $47.00 price target on shares of Truist Financial in a research note on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.59.

Truist Financial Company 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.