Truist Financial Corporation $TFC Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. raised its stake in Truist Financial Corporation (NYSE:TFC) by 3.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,232,026 shares of the insurance provider’s stock after acquiring an additional 93,373 shares during the quarter. Prudential Financial Inc. owned approximately 0.25% of Truist Financial worth $138,945,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TFC. Wealth Preservation Advisors LLC purchased a new position in Truist Financial in the 1st quarter valued at about $25,000. Aspect Partners LLC grew its holdings in shares of Truist Financial by 71.5% during the second quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock worth $28,000 after buying an additional 268 shares in the last quarter. Princeton Global Asset Management LLC acquired a new position in shares of Truist Financial in the second quarter valued at approximately $30,000. Motco lifted its stake in shares of Truist Financial by 435.6% during the first quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after buying an additional 649 shares during the period. Finally, Ramirez Asset Management Inc. boosted its position in Truist Financial by 60.0% during the second quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 300 shares during the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Stock Performance

Truist Financial stock opened at $45.46 on Friday. The company has a market cap of $58.15 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s 50-day moving average is $44.58 and its 200-day moving average is $43.56.

Truist Financial (NYSE:TFC) last issued its earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.20 billion. During the same quarter in the previous year, the business earned $0.97 EPS. The company’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. Equities analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

TFC has been the subject of several recent analyst reports. UBS Group set a $55.00 target price on shares of Truist Financial in a research note on Tuesday, October 21st. Raymond James Financial reiterated an “outperform” rating on shares of Truist Financial in a research note on Tuesday, October 7th. TD Cowen upgraded Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Tuesday, October 21st. Wells Fargo & Company restated an “equal weight” rating and issued a $47.00 price target on shares of Truist Financial in a report on Thursday, August 21st. Finally, Evercore ISI upped their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average 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.