Principle Wealth Partners LLC Sells 1,529 Shares of Truist Financial Corporation $TFC

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

Several other hedge funds have also added to or reduced their stakes in TFC. Wealth Preservation Advisors LLC acquired a new stake in Truist Financial during the 1st quarter worth $25,000. Centennial Bank AR raised its stake in Truist Financial by 360.2% during the 1st quarter. Centennial Bank AR now owns 741 shares of the insurance provider’s stock worth $30,000 after buying an additional 580 shares during the period. Princeton Global Asset Management LLC acquired a new stake in Truist Financial during the 2nd quarter worth $30,000. Motco raised its stake in Truist Financial by 435.6% during the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock worth $33,000 after buying an additional 649 shares during the period. Finally, Ramirez Asset Management Inc. raised its stake in Truist Financial by 60.0% during the 2nd quarter. Ramirez Asset Management Inc. now owns 800 shares of the insurance provider’s stock worth $34,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Performance

TFC opened at $43.60 on Thursday. The business’s 50-day moving average price is $45.10 and its two-hundred day moving average price is $42.34. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $49.06. The company has a market capitalization of $56.22 billion, a price-to-earnings ratio of 11.72, a P/E/G ratio of 1.20 and a beta of 0.88. 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 earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.20 billion. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.Truist Financial’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 earnings per share. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities analysts expect that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 8th were given 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 payout ratio is currently 55.91%.

Analyst Ratings Changes

TFC has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Truist Financial in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price objective on Truist Financial from $48.00 to $49.00 and gave the stock a “market perform” rating in a research note on Monday. Raymond James Financial reaffirmed an “outperform” rating on shares of Truist Financial in a research note on Tuesday, October 7th. Piper Sandler set a $48.00 price objective on Truist Financial in a research note on Monday. Finally, UBS Group set a $55.00 price target on Truist Financial in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company has an average 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.