APG Asset Management N.V. Sells 405,766 Shares of Truist Financial Corporation $TFC

APG Asset Management N.V. reduced its stake in Truist Financial Corporation by 34.5% in the third quarter, selling 405,766 shares and retaining 769,663 shares valued at $35.19 million. Truist’s board authorized a $10 billion stock buyback and declared a quarterly dividend of $0.52 per share, yielding 4.2%. The company missed Q4 earnings estimates with $1.00 EPS versus $1.09 expected and $4.93 billion in revenue versus $5.32 billion expected, leading to a 4.3% stock drop and a “Moderate Buy” consensus analyst rating with a target of $56.47.