Grantham Mayo Van Otterloo & Co. LLC Decreases Stock Position in Truist Financial Corporation $TFC

Grantham Mayo Van Otterloo & Co. LLC lessened its holdings in Truist Financial Corporation (NYSE:TFC) by 8.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 102,033 shares of the insurance provider’s stock after selling 8,815 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Truist Financial were worth $4,386,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of TFC. Invesco Ltd. raised its position in shares of Truist Financial by 32.0% in the 1st 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 last quarter. Nuveen LLC acquired a new position in Truist Financial during the 1st quarter valued at approximately $117,929,000. Laurel Wealth Advisors LLC increased its stake in Truist Financial by 4,121.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 2,335,991 shares of the insurance provider’s stock valued at $100,424,000 after purchasing an additional 2,280,653 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Truist Financial by 21.8% during the first quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider’s stock worth $495,509,000 after buying an additional 2,158,639 shares during the period. Finally, Vanguard Group Inc. lifted 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 worth $5,177,722,000 after buying an additional 1,529,478 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 0.6%

Shares of TFC opened at $46.50 on Friday. The company has a market capitalization of $59.48 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.20 and a beta of 0.92. Truist Financial Corporation has a 52 week low of $33.56 and a 52 week high of $48.53. The stock’s 50-day moving average price is $44.66 and its 200-day moving average price is $43.78. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.05. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.20 billion. During the same period last year, the business earned $0.97 earnings per share. Truist Financial’s quarterly 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. On average, sell-side analysts predict 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. Investors of record on Friday, November 14th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Friday, November 14th. Truist Financial’s payout ratio is currently 55.91%.

Insider Transactions at Truist Financial

In related news, Director K. David Jr. Boyer sold 5,160 shares of the firm’s 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 sale, the director owned 10,153 shares in the company, valued at approximately $471,606.85. This trade represents a 33.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TFC shares. UBS Group set a $55.00 target price on Truist Financial in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Truist Financial in a research note on Tuesday. Keefe, Bruyette & Woods raised their price objective on Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a research note on Monday, October 20th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $47.00 target price on shares of Truist Financial in a report on Thursday, August 21st. Finally, Morgan Stanley increased their price target on shares of Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” rating 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $50.00.

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.