Profund Advisors LLC Sells 3,489 Shares of Truist Financial Corporation $TFC

Profund Advisors LLC cut its stake in shares of Truist Financial Corporation (NYSE:TFC) by 16.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,474 shares of the insurance provider’s stock after selling 3,489 shares during the quarter. Profund Advisors LLC’s holdings in Truist Financial were worth $751,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TFC. King Luther Capital Management Corp increased its stake in shares of Truist Financial by 150.2% in the second quarter. King Luther Capital Management Corp now owns 122,979 shares of the insurance provider’s stock worth $5,287,000 after purchasing an additional 73,823 shares in the last quarter. Midwest Trust Co purchased a new stake in shares of Truist Financial during the second quarter worth about $11,119,000. 1ST Source Bank lifted its holdings in Truist Financial by 8.6% in the 2nd quarter. 1ST Source Bank now owns 8,577 shares of the insurance provider’s stock worth $369,000 after purchasing an additional 681 shares in the last quarter. Global Wealth Management Investment Advisory Inc. boosted its stake in Truist Financial by 43.8% in the 2nd quarter. Global Wealth Management Investment Advisory Inc. now owns 128,968 shares of the insurance provider’s stock worth $5,544,000 after purchasing an additional 39,308 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Truist Financial by 7.4% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,495,802 shares of the insurance provider’s stock valued at $107,295,000 after buying an additional 171,114 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group set a $55.00 target price on shares of Truist Financial in a research report on Tuesday, October 21st. Wells Fargo & Company reissued an “equal weight” rating and set a $47.00 price target on shares of Truist Financial in a research note on Thursday, August 21st. Raymond James Financial reaffirmed an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. Morgan Stanley raised their target price 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, Wall Street Zen lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Saturday. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $50.59.

Truist Financial Stock Performance

Shares of NYSE:TFC opened at $45.32 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $57.98 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.20 and a beta of 0.92. 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 is $44.74 and its 200 day moving average is $43.26.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.20 billion. During the same quarter in the prior year, the firm posted $0.97 earnings per share. The company’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. Research analysts predict that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be issued a $0.52 dividend. The ex-dividend date is Friday, November 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.6%. Truist Financial’s dividend payout ratio is presently 55.91%.

About Truist Financial

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.