New York Life Investment Management LLC Has $7.66 Million Position in Truist Financial Corporation $TFC

New York Life Investment Management LLC increased its stake in shares of Truist Financial Corporation (NYSE:TFC) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,061 shares of the insurance provider’s stock after buying an additional 2,109 shares during the quarter. New York Life Investment Management LLC’s holdings in Truist Financial were worth $7,655,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. First Hawaiian Bank raised its position in Truist Financial by 8.6% during the 1st quarter. First Hawaiian Bank now owns 11,991 shares of the insurance provider’s stock worth $493,000 after purchasing an additional 948 shares during the last quarter. Code Waechter LLC bought a new position in Truist Financial during the 1st quarter worth $365,000. Pinnacle Financial Partners Inc raised its position in Truist Financial by 55.1% during the 1st quarter. Pinnacle Financial Partners Inc now owns 134,363 shares of the insurance provider’s stock worth $5,530,000 after purchasing an additional 47,717 shares during the last quarter. Credit Agricole S A raised its position in shares of Truist Financial by 76.4% in the 1st quarter. Credit Agricole S A now owns 500,384 shares of the insurance provider’s stock worth $20,591,000 after acquiring an additional 216,672 shares in the last quarter. Finally, Adapt Wealth Advisors LLC raised its position in shares of Truist Financial by 78.9% in the 1st quarter. Adapt Wealth Advisors LLC now owns 20,456 shares of the insurance provider’s stock worth $842,000 after acquiring an additional 9,021 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Piper Sandler set a $48.00 price objective on Truist Financial in a research report on Monday, October 20th. Raymond James Financial restated an “outperform” rating on shares of Truist Financial in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods upped their price objective on Truist Financial from $48.00 to $49.00 and gave the company a “market perform” rating in a research note on Monday, October 20th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $47.00 price objective on shares of Truist Financial in a research note on Thursday, August 21st. Finally, Evercore ISI increased their target price on Truist Financial from $48.00 to $50.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.59.

Truist Financial Trading Down 1.0%

Truist Financial stock opened at $43.89 on Thursday. The stock has a market cap of $56.59 billion, a P/E ratio of 11.80, a PEG ratio of 1.21 and a beta of 0.88. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The firm’s fifty day moving average price is $45.06 and its 200-day moving average price is $42.71. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.86.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, October 17th. The insurance provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.05. The firm had revenue of $5.24 billion for 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 business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.97 earnings per share. Truist Financial has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities research analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.7%. Truist Financial’s dividend payout ratio is presently 55.91%.

Truist Financial Company 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.