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

Profund Advisors LLC cut its position 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 & Exchange Commission. The institutional investor owned 17,474 shares of the insurance provider’s stock after selling 3,489 shares during the period. Profund Advisors LLC’s holdings in Truist Financial were worth $751,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wealth Preservation Advisors LLC bought a new stake in shares of Truist Financial in the 1st quarter valued at about $25,000. Aspect Partners LLC grew its stake in Truist Financial by 71.5% in the second quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 268 shares during the last quarter. Princeton Global Asset Management LLC bought a new stake in shares of Truist Financial in the 2nd quarter valued at about $30,000. Motco raised its stake in shares of Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 649 shares in the last quarter. Finally, Ramirez Asset Management Inc. boosted its stake in Truist Financial by 60.0% in the second quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 300 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Trading Up 0.4%

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. Truist Financial Corporation has a 12-month low of $33.56 and a 12-month high of $49.06. The business has a 50 day moving average of $44.74 and a two-hundred day moving average of $43.26. The company has a market capitalization of $57.98 billion, a PE ratio of 12.18, a PEG 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 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.20 billion. During the same quarter last year, the company earned $0.97 EPS. The business’s 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. As a group, analysts forecast that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be given 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 55.91%.

Analyst Ratings Changes

A number of research firms have commented on TFC. Raymond James Financial reiterated an “outperform” rating on shares of Truist Financial in a research note on Tuesday, October 7th. Evercore ISI lifted their price target on Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. TD Cowen raised Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Tuesday, October 21st. UBS Group set a $55.00 price target on shares of Truist Financial in a report on Tuesday, October 21st. Finally, Wall Street Zen cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Saturday. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $50.59.

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.