Brandywine Global Investment Management LLC Grows Position in Truist Financial Corporation $TFC

Brandywine Global Investment Management LLC raised its stake in Truist Financial Corporation (NYSE:TFC) by 16.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 461,405 shares of the insurance provider’s stock after acquiring an additional 66,336 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Truist Financial were worth $19,836,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in Truist Financial by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 120,440,153 shares of the insurance provider’s stock worth $5,177,722,000 after purchasing an additional 1,529,478 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Truist Financial by 0.3% during the second quarter. Geode Capital Management LLC now owns 28,191,122 shares of the insurance provider’s stock worth $1,205,855,000 after purchasing an additional 74,728 shares during the last quarter. Amundi grew its position in shares of Truist Financial by 4.6% in the first quarter. Amundi now owns 24,774,656 shares of the insurance provider’s stock valued at $1,019,477,000 after purchasing an additional 1,091,311 shares during the period. Invesco Ltd. increased its stake in Truist Financial by 32.0% in the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock valued at $540,723,000 after purchasing an additional 3,188,999 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Truist Financial by 21.8% during the first 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. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. TD Cowen upgraded 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, October 21st. Morgan Stanley raised their target price on shares of Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. Piper Sandler set a $48.00 price target on shares of Truist Financial in a research report on Monday, October 20th. UBS Group set a $55.00 price target on shares of Truist Financial in a report on Tuesday, October 21st. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a research note on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Truist Financial currently has a consensus rating of “Moderate Buy” and an average price target of $50.59.

Truist Financial Price Performance

TFC 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 50 day moving average of $44.58 and a two-hundred day moving average of $43.53. The company has a market cap 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. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70.

Truist Financial (NYSE:TFC) last issued its 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 net margin of 16.84% and a return on equity of 8.73%. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.20 billion. During the same quarter last year, the firm posted $0.97 EPS. The business’s revenue for the quarter 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. On average, analysts expect that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Friday, November 14th. Truist Financial’s payout ratio is currently 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.