Signature Estate & Investment Advisors LLC lifted its holdings in shares of Truist Financial Corporation (NYSE:TFC – Free Report) by 11.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 17,818 shares of the insurance provider’s stock after acquiring an additional 1,819 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Truist Financial were worth $766,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Wealth Preservation Advisors LLC acquired a new position in shares of Truist Financial during the 1st quarter worth $25,000. Centennial Bank AR increased its holdings in Truist Financial by 360.2% in the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 580 shares in the last quarter. Motco increased its holdings in Truist Financial by 435.6% in the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 649 shares in the last quarter. Ramirez Asset Management Inc. increased its holdings in Truist Financial by 60.0% in the 2nd quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 300 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in Truist Financial by 115.3% in the 1st quarter. Meeder Asset Management Inc. now owns 874 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 468 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.
Insider Activity at Truist Financial
In related news, insider Bradley D. Bender sold 12,540 shares of the company’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total transaction of $566,682.60. Following the sale, the insider owned 500 shares in the company, valued at $22,595. This represents a 96.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by insiders.
Truist Financial Trading Up 3.8%
Truist Financial (NYSE:TFC – Get Free Report) last released its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same quarter in the previous year, the company posted $0.97 EPS. 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 expect that Truist Financial Corporation will post 4 EPS for the current year.
Truist Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 8th. This represents a $2.08 annualized dividend and a dividend yield of 4.9%. Truist Financial’s dividend payout ratio is presently 55.91%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the company. Evercore ISI upped their target price on Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Raymond James Financial reaffirmed an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Truist Financial in a report on Wednesday, October 8th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $47.00 target price on shares of Truist Financial in a report on Thursday, August 21st. Finally, Morgan Stanley upped their target price on Truist Financial from $48.00 to $54.00 and gave the stock an “equal weight” rating in a report on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.06.
View Our Latest Stock Report on TFC
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.
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