Forsta AP Fonden Sells 23,000 Shares of Truist Financial Corporation $TFC

Forsta AP Fonden trimmed its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 7.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 282,000 shares of the insurance provider’s stock after selling 23,000 shares during the period. Forsta AP Fonden’s holdings in Truist Financial were worth $12,123,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of TFC. Wealth Preservation Advisors LLC bought a new position in shares of Truist Financial in the first quarter valued at about $25,000. Aspect Partners LLC increased its position in Truist Financial by 71.5% in the 2nd quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 268 shares in the last quarter. Princeton Global Asset Management LLC bought a new position in shares of Truist Financial in the second quarter worth about $30,000. Motco raised its stake in shares of Truist Financial by 435.6% in the first quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 649 shares during the last quarter. Finally, Ramirez Asset Management Inc. lifted its position in shares of Truist Financial by 60.0% during the second 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. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TFC shares. TD Cowen upgraded 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. UBS Group set a $55.00 target price on Truist Financial in a research note on Tuesday, October 21st. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $47.00 price target on shares of Truist Financial in a research note on Thursday, August 21st. Wall Street Zen cut Truist Financial from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Morgan Stanley boosted their price objective on Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.59.

Truist Financial Stock Up 0.7%

Truist Financial stock opened at $45.61 on Thursday. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $58.35 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 1.20 and a beta of 0.92. The company’s 50 day simple moving average is $44.73 and its 200 day simple moving average is $43.28.

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, topping analysts’ consensus estimates of $0.99 by $0.05. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.20 billion. During the same period last year, the firm posted $0.97 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, sell-side analysts anticipate 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 will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid 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 payout ratio is presently 55.91%.

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.