AE Wealth Management LLC Purchases 10,891 Shares of Truist Financial Corporation $TFC

AE Wealth Management LLC boosted its position in Truist Financial Corporation (NYSE:TFC) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 494,280 shares of the insurance provider’s stock after buying an additional 10,891 shares during the quarter. AE Wealth Management LLC’s holdings in Truist Financial were worth $21,249,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Wealth Preservation Advisors LLC acquired a new stake in shares of Truist Financial in the first quarter valued at about $25,000. Aspect Partners LLC boosted its stake in Truist Financial by 71.5% during the 2nd quarter. Aspect Partners LLC now owns 643 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 268 shares during the period. Princeton Global Asset Management LLC bought a new stake in Truist Financial during the 2nd quarter valued at approximately $30,000. Motco grew its holdings in Truist Financial by 435.6% in the 1st quarter. Motco now owns 798 shares of the insurance provider’s stock valued at $33,000 after buying an additional 649 shares during the last quarter. Finally, Ramirez Asset Management Inc. increased its position in Truist Financial by 60.0% in 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 own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TFC shares. Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a research note on Wednesday, October 8th. Wells Fargo & Company reissued an “equal weight” rating and issued a $47.00 price target on shares of Truist Financial in a report on Thursday, August 21st. Evercore ISI raised 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. Morgan Stanley upped their price objective on shares of Truist Financial from $54.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, October 20th. Finally, Wall Street Zen cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research note on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.59.

Truist Financial Stock Performance

NYSE TFC opened at $44.71 on Friday. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The stock has a market cap of $57.20 billion, a P/E ratio of 12.02, a PEG ratio of 1.20 and a beta of 0.92. The company’s 50-day simple moving average is $44.80 and its 200 day simple moving average is $43.11.

Truist Financial (NYSE:TFC) last announced 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 firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.20 billion. Truist Financial had a net margin of 16.84% and a return on equity of 8.73%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.97 earnings per share. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, research analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Friday, November 14th. Truist Financial’s dividend payout ratio (DPR) is 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.