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

Prudential Financial Inc. raised its position in Truist Financial Corporation (NYSE:TFC) by 3.0% in the 2nd quarter, Holdings Channel reports. The fund owned 3,232,026 shares of the insurance provider’s stock after purchasing an additional 93,373 shares during the period. Prudential Financial Inc.’s holdings in Truist Financial were worth $138,945,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TFC. Invesco Ltd. boosted its stake in shares of Truist Financial by 32.0% in the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock valued at $540,723,000 after purchasing an additional 3,188,999 shares during the period. Nuveen LLC acquired a new position in Truist Financial in the 1st quarter worth $117,929,000. American Century Companies Inc. boosted 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 buying an additional 2,158,639 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Truist Financial by 1.3% during the second quarter. Vanguard Group Inc. now owns 120,440,153 shares of the insurance provider’s stock valued at $5,177,722,000 after acquiring an additional 1,529,478 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of Truist Financial by 178.0% during the first quarter. National Bank of Canada FI now owns 2,289,868 shares of the insurance provider’s stock worth $94,228,000 after acquiring an additional 1,466,236 shares during the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE TFC opened at $45.46 on Friday. 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 $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 twelve month low of $33.56 and a twelve month high of $49.06. The business has a 50 day simple moving average of $44.58 and a 200-day simple moving average of $43.56.

Truist Financial (NYSE:TFC) last released 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 firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.20 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. The firm’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, equities research analysts expect that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a dividend of $0.52 per share. 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 is currently 55.91%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. UBS Group set a $55.00 price target on Truist Financial in a report on Tuesday, October 21st. Keefe, Bruyette & Woods upped their target price on Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a research report on Monday, October 20th. Wall Street Zen downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Evercore ISI lifted their price target on shares of Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Truist Financial in a research note on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.