Intech Investment Management LLC Cuts Stake in Truist Financial Corporation $TFC

Intech Investment Management LLC cut its stake in Truist Financial Corporation (NYSE:TFC) by 4.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,725 shares of the insurance provider’s stock after selling 2,181 shares during the period. Intech Investment Management LLC’s holdings in Truist Financial were worth $1,837,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. raised its stake in Truist Financial by 32.0% during the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock worth $540,723,000 after purchasing an additional 3,188,999 shares during the period. Nuveen LLC acquired a new stake in shares of Truist Financial during the 1st quarter worth $117,929,000. American Century Companies Inc. raised its position in shares of 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 worth $495,509,000 after buying an additional 2,158,639 shares during the period. National Bank of Canada FI boosted its holdings in Truist Financial by 178.0% in the first quarter. National Bank of Canada FI now owns 2,289,868 shares of the insurance provider’s stock valued at $94,228,000 after acquiring an additional 1,466,236 shares during the last quarter. Finally, Amundi grew its position in Truist Financial by 4.6% during the first quarter. Amundi now owns 24,774,656 shares of the insurance provider’s stock valued at $1,019,477,000 after acquiring an additional 1,091,311 shares during the period. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on TFC. Raymond James Financial restated an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Truist Financial in a research report on Wednesday. Keefe, Bruyette & Woods raised their price target on shares of Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a report on Monday, October 20th. Wall Street Zen downgraded shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, TD Cowen raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Tuesday, October 21st. Two investment 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.59.

Truist Financial Trading Up 2.4%

TFC opened at $45.46 on Friday. The firm’s 50 day moving average is $44.58 and its 200-day moving average is $43.53. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $58.15 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.20 and a beta of 0.92.

Truist Financial (NYSE:TFC) last announced its 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. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.20 billion. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 earnings per share. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Analysts expect that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

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. This represents a $2.08 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Friday, November 14th. Truist Financial’s dividend payout ratio is presently 55.91%.

About Truist Financial

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.