Forsta AP Fonden Has $12.12 Million Holdings in Truist Financial Corporation $TFC

Forsta AP Fonden decreased its stake in shares of Truist Financial Corporation (NYSE:TFC) by 7.5% in the 2nd quarter, Holdings Channel reports. The fund owned 282,000 shares of the insurance provider’s stock after selling 23,000 shares during the quarter. Forsta AP Fonden’s holdings in Truist Financial were worth $12,123,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TFC. Foster Victor Wealth Advisors LLC increased its holdings in Truist Financial by 0.4% during the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 62,087 shares of the insurance provider’s stock worth $2,804,000 after purchasing an additional 242 shares in the last quarter. MGO One Seven LLC boosted its position in shares of Truist Financial by 0.9% during the second quarter. MGO One Seven LLC now owns 28,849 shares of the insurance provider’s stock worth $1,240,000 after buying an additional 246 shares during the period. Klingman & Associates LLC grew its holdings in shares of Truist Financial by 2.2% during the first quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider’s stock worth $484,000 after buying an additional 248 shares in the last quarter. Haverford Trust Co raised its position in Truist Financial by 3.5% in the 1st quarter. Haverford Trust Co now owns 7,751 shares of the insurance provider’s stock valued at $319,000 after buying an additional 262 shares during the last quarter. Finally, Keystone Financial Group Inc. lifted its stake in Truist Financial by 1.3% in the 2nd quarter. Keystone Financial Group Inc. now owns 21,283 shares of the insurance provider’s stock valued at $942,000 after acquiring an additional 266 shares in the last quarter. 71.28% of the stock is owned by institutional investors.

Truist Financial Stock Performance

Shares of TFC stock opened at $45.61 on Thursday. The company has a fifty day moving average price of $44.73 and a two-hundred day moving average price of $43.28. Truist Financial Corporation has a one year low of $33.56 and a one year high of $49.06. The stock has a market cap of $58.35 billion, a P/E ratio of 12.26, a P/E/G ratio of 1.20 and a beta of 0.92. 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 issued 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. 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 in the prior year, the firm earned $0.97 EPS. Truist Financial’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, equities analysts predict that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The firm 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 $0.52 dividend. The ex-dividend date is Friday, November 14th. This represents a $2.08 annualized dividend and a yield of 4.6%. Truist Financial’s dividend payout ratio is currently 55.91%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TFC. TD Cowen raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Tuesday, October 21st. Raymond James Financial reaffirmed an “outperform” rating on shares of Truist Financial in a research report on Tuesday, October 7th. Evercore ISI boosted their price target on shares of Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Wells Fargo & Company restated an “equal weight” rating and set a $47.00 price objective on shares of Truist Financial in a research note on Thursday, August 21st. Finally, Piper Sandler set a $48.00 target price on Truist Financial in a research report on Monday, October 20th. Two equities research 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’s stock. According to data from MarketBeat, Truist Financial has an average rating of “Moderate Buy” and a consensus 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.