Principle Wealth Partners LLC Has $2.71 Million Stock Holdings in Truist Financial Corporation $TFC

Principle Wealth Partners LLC lessened its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 2.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 63,046 shares of the insurance provider’s stock after selling 1,529 shares during the period. Principle Wealth Partners LLC’s holdings in Truist Financial were worth $2,710,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. LifeWealth Investments LLC lifted its position in shares of Truist Financial by 5.0% during the 2nd quarter. LifeWealth Investments LLC now owns 11,526 shares of the insurance provider’s stock worth $495,000 after purchasing an additional 546 shares during the last quarter. Freedom Investment Management Inc. lifted its position in shares of Truist Financial by 2.0% during the 2nd quarter. Freedom Investment Management Inc. now owns 17,087 shares of the insurance provider’s stock worth $735,000 after purchasing an additional 328 shares during the last quarter. Forum Financial Management LP lifted its position in shares of Truist Financial by 6.1% during the 2nd quarter. Forum Financial Management LP now owns 20,055 shares of the insurance provider’s stock worth $862,000 after purchasing an additional 1,157 shares during the last quarter. Greatmark Investment Partners Inc. lifted its position in shares of Truist Financial by 4.8% during the 2nd quarter. Greatmark Investment Partners Inc. now owns 9,299 shares of the insurance provider’s stock worth $400,000 after purchasing an additional 423 shares during the last quarter. Finally, Exencial Wealth Advisors LLC lifted its position in shares of Truist Financial by 6.0% during the 2nd quarter. Exencial Wealth Advisors LLC now owns 14,057 shares of the insurance provider’s stock worth $604,000 after purchasing an additional 792 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Down 0.5%

NYSE TFC opened at $43.60 on Thursday. The firm has a market cap of $56.22 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 1.20 and a beta of 0.88. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06. The stock’s 50 day simple moving average is $45.10 and its 200 day simple moving average is $42.34. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.20 billion. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.Truist Financial’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.97 EPS. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, sell-side analysts forecast 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 was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.8%. Truist Financial’s dividend payout ratio is 55.91%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Truist Financial in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price target on Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a report on Monday. TD Cowen raised Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Tuesday. Evercore ISI upped their price target on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. Two investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.59.

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.