Global Wealth Management Investment Advisory Inc. Increases Stake in Truist Financial Corporation $TFC

Global Wealth Management Investment Advisory Inc. increased its position in shares of Truist Financial Corporation (NYSE:TFC) by 43.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 128,968 shares of the insurance provider’s stock after purchasing an additional 39,308 shares during the period. Truist Financial makes up 1.0% of Global Wealth Management Investment Advisory Inc.’s portfolio, making the stock its 25th largest holding. Global Wealth Management Investment Advisory Inc.’s holdings in Truist Financial were worth $5,544,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TFC. Wealth Preservation Advisors LLC purchased a new position in shares of Truist Financial during the first quarter valued at approximately $25,000. Aspect Partners LLC lifted its stake in shares of Truist Financial by 71.5% during the 2nd quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 268 shares during the last quarter. Princeton Global Asset Management LLC bought a new stake in shares of Truist Financial during the 2nd quarter worth approximately $30,000. Motco boosted its holdings in Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 649 shares during the period. Finally, Ramirez Asset Management Inc. grew its position in Truist Financial by 60.0% in the 2nd 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 during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TFC has been the subject of several research analyst reports. Wells Fargo & Company reiterated an “equal weight” rating and set a $47.00 target price on shares of Truist Financial in a research report on Thursday, August 21st. UBS Group set a $55.00 price objective on shares of Truist Financial in a report on Tuesday, October 21st. Wall Street Zen downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Saturday. Piper Sandler set a $48.00 target price on shares of Truist Financial in a research report on Monday, October 20th. Finally, Morgan Stanley boosted their price target on Truist Financial from $54.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, October 20th. 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.59.

Truist Financial Price Performance

Shares of TFC opened at $44.71 on Friday. The company has a 50 day moving average price of $44.80 and a 200-day moving average price of $43.11. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The stock has a market capitalization of $57.20 billion, a PE ratio of 12.02, a PEG ratio of 1.20 and a beta of 0.92. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86.

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

Truist Financial Announces Dividend

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 given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, November 14th. Truist Financial’s payout ratio is presently 55.91%.

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.