Legal & General Group Plc Sells 871,857 Shares of Truist Financial Corporation $TFC

Legal & General Group Plc lessened its position in shares of Truist Financial Corporation (NYSE:TFC) by 10.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,247,262 shares of the insurance provider’s stock after selling 871,857 shares during the quarter. Legal & General Group Plc owned 0.56% of Truist Financial worth $311,560,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. MAI Capital Management increased its position in shares of Truist Financial by 13.6% during the 2nd quarter. MAI Capital Management now owns 16,808 shares of the insurance provider’s stock valued at $723,000 after purchasing an additional 2,017 shares during the last quarter. DNB Asset Management AS boosted its holdings in shares of Truist Financial by 0.8% in the second quarter. DNB Asset Management AS now owns 236,306 shares of the insurance provider’s stock worth $10,159,000 after buying an additional 1,772 shares during the last quarter. Winnow Wealth LLC bought a new stake in Truist Financial during the second quarter valued at approximately $185,000. Ensign Peak Advisors Inc increased its holdings in Truist Financial by 4.1% during the second quarter. Ensign Peak Advisors Inc now owns 382,092 shares of the insurance provider’s stock valued at $16,426,000 after buying an additional 15,069 shares during the last quarter. Finally, Empirical Finance LLC increased its holdings in Truist Financial by 0.6% during the second quarter. Empirical Finance LLC now owns 46,253 shares of the insurance provider’s stock valued at $1,988,000 after buying an additional 289 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. 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. Raymond James Financial reaffirmed an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. Keefe, Bruyette & Woods lifted 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. Piper Sandler set a $48.00 price target on Truist Financial in a report on Monday, October 20th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Truist Financial in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Truist Financial presently has an average rating of “Moderate Buy” and an average target price of $50.59.

Truist Financial Trading Up 2.4%

Shares of TFC stock opened at $45.46 on Friday. Truist Financial Corporation has a 52-week low of $33.56 and a 52-week high of $49.06. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $58.15 billion, a PE ratio of 12.22, a PEG ratio of 1.20 and a beta of 0.92. The stock has a fifty day simple moving average of $44.58 and a two-hundred day simple moving average of $43.56.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 EPS 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 business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.20 billion. During the same period in the previous year, the business earned $0.97 earnings per share. 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. On average, analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be issued a $0.52 dividend. The ex-dividend date of this dividend 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 (DPR) is 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.