Truist completes sale of Truist Insurance Holdings and executes strategic balance sheet repositioning [Yahoo! Finance]
Truist Financial Corporation (TFC)
Last truist financial corporation earnings: 4/20 05:45 am
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Source: Yahoo! Finance
May 7, 2024 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today announced the completion of the previously announced sale of its remaining stake in Truist Insurance Holdings, the fifth largest insurance brokerage in the United States , to an investor group led by private equity firms Stone Point Capital, Clayton, Dubilier & Rice, Mubadala Investment Company and other co-investors. "We are pleased to have completed the sale of TIH, and we look forward to maintaining a strong partnership with TIH into the future," said Truist Chairman and Chief Executive Officer Bill Rogers . "The sale of TIH significantly enhances Truist's financial profile and positions Truist to invest in and grow its core banking businesses." At closing, Truist received after-tax cash proceeds of approximately $10.1 billion . The transaction resulted in an approximate after-tax gain of $4.7 billion and increased CET1 capital by $9.4 billion . On a pro-forma basis, Truist's March 31, 2024 , CET1 capita
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TFC
News
- Truist Financial Co. (NYSE: TFC) had its price target raised by analysts at Stephens from $43.00 to $47.00. They now have an "overweight" rating on the stock.MarketBeat
- Truist Chairman & CEO to speak at the Bernstein Strategic Decisions Conference [Yahoo! Finance]Yahoo! Finance
- Truist Chairman & CEO to speak at the Bernstein Strategic Decisions ConferencePR Newswire
- Truist Financial Co. (NYSE: TFC) is now covered by analysts at Barclays PLC. They set an "equal weight" rating and a $43.00 price target on the stock.MarketBeat
- Truist Financial Co. (NYSE: TFC) had its price target raised by analysts at Piper Sandler from $38.00 to $41.00. They now have a "neutral" rating on the stock.MarketBeat
TFC
Earnings
- 4/22/24 - Beat
TFC
Sec Filings
- 5/13/24 - Form 13F-HR
- 5/10/24 - Form 8-K
- 5/10/24 - Form 8-K
- TFC's page on the SEC website