Vanguard Discloses 5.9% Stake in Truist Financial (TFC)

TL;DR

**Vanguard now owns 5.9% of Truist, down slightly from prior filings.**

AI Summary

The Vanguard Group, a major investment management company, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership in Truist Financial Corp (TFC). As of December 29, 2023, Vanguard reported beneficial ownership of 78,560,944 shares of Truist's Common Stock, representing 5.9% of the company. This filing indicates a slight decrease in Vanguard's percentage ownership from previous disclosures, which matters to investors as it shows a large institutional investor's updated position, potentially signaling a minor shift in their long-term view or portfolio rebalancing.

Why It Matters

This filing updates Vanguard's significant ownership in Truist, providing transparency on a major institutional investor's stake and its slight adjustment, which can influence market perception.

Risk Assessment

Risk Level: low — This filing is a routine update from a large institutional investor and does not indicate any immediate significant risk to the company or its shareholders.

Analyst Insight

Investors should note Vanguard's continued significant, though slightly reduced, stake in Truist, indicating ongoing institutional confidence but not necessarily a strong buy signal. This is a routine update, not a major catalyst.

Key Numbers

• 78,560,944 — Shares Beneficially Owned (The total number of Truist Financial Corp common shares Vanguard holds, indicating their substantial investment.)
• 5.9% — Percentage of Class (The percentage of Truist's common stock owned by Vanguard, showing their significant but non-controlling stake.)
• December 29, 2023 — Event Date (The specific date as of which Vanguard's ownership percentage was calculated for this filing.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• Truist Financial Corp (company) — subject company whose shares are being reported
• 78,560,944 shares (dollar_amount) — total shares beneficially owned by Vanguard
• 5.9% (dollar_amount) — percentage of Truist's Common Stock owned by Vanguard
• December 29, 2023 (date) — date of the event requiring the filing
• February 13, 2024 (date) — filing date of the SC 13G/A

Forward-Looking Statements

• Vanguard will likely maintain a significant, but non-controlling, stake in Truist Financial Corp. (The Vanguard Group) — high confidence, target: Next 12-24 months
• Truist Financial Corp's stock price will not be significantly impacted by this routine disclosure alone. (Truist Financial Corp) — high confidence, target: Next 1-3 months

FAQ

Filing Documents

• tv02118-truistfinancialcorp.htm (SC 13G/A) — 11KB
• 0001104659-24-022140.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Truist Financial Corp

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 214 North Tryon Street Charlotte, NC 28202

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 89832Q109

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR