Johnson Financial Group Inc. Purchases 2,112 Shares of Truist Financial Corporation $TFC

Johnson Financial Group Inc. raised its position in Truist Financial Corporation (NYSE:TFC) by 132.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,711 shares of the insurance provider’s stock after buying an additional 2,112 shares during the period. Johnson Financial Group Inc.’s holdings in Truist Financial were worth $160,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. First Hawaiian Bank raised its holdings in shares of Truist Financial by 8.6% in the first quarter. First Hawaiian Bank now owns 11,991 shares of the insurance provider’s stock valued at $493,000 after buying an additional 948 shares during the last quarter. Credit Agricole S A grew its holdings in Truist Financial by 76.4% during the 1st quarter. Credit Agricole S A now owns 500,384 shares of the insurance provider’s stock worth $20,591,000 after acquiring an additional 216,672 shares during the last quarter. Empower Advisory Group LLC increased its position in Truist Financial by 319.8% in the 1st quarter. Empower Advisory Group LLC now owns 29,143 shares of the insurance provider’s stock valued at $1,199,000 after acquiring an additional 22,201 shares in the last quarter. Inspire Trust Co. N.A. raised its stake in shares of Truist Financial by 9.8% in the first quarter. Inspire Trust Co. N.A. now owns 90,000 shares of the insurance provider’s stock worth $3,704,000 after acquiring an additional 8,000 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in shares of Truist Financial during the first quarter worth approximately $2,435,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on TFC. UBS Group set a $55.00 price target on shares of Truist Financial in a report on Tuesday, October 21st. Wall Street Zen downgraded Truist Financial from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Morgan Stanley upped their price target on Truist Financial from $54.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, October 20th. Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a research report on Monday, October 20th. Finally, Piper Sandler set a $48.00 price objective on Truist Financial in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $50.00.

Insiders Place Their Bets

In other news, Director K. David Jr. Boyer sold 5,160 shares of Truist Financial stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $46.45, for a total transaction of $239,682.00. Following the transaction, the director directly owned 10,153 shares of the company’s stock, valued at $471,606.85. This trade represents a 33.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.17% of the company’s stock.

Truist Financial Trading Up 0.6%

NYSE TFC opened at $46.50 on Friday. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $48.53. The stock has a 50-day simple moving average of $44.66 and a 200 day simple moving average of $43.77. 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 $59.48 billion, a PE ratio of 12.50, a P/E/G ratio of 1.20 and a beta of 0.92.

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

Truist Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, November 14th. Truist Financial’s dividend payout ratio is presently 55.91%.

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.