Truist gets better-than-expected price for insurance-brokerage unit as dealmaking heats up

Truist Financial Corp.’s plan to sell its remaining stake in Truist Insurance Holdings at a valuation of $15.5 billion marks a better-than-expected price for the business, an analyst said Tuesday. Keith Horowitz of Citigroup reiterated a buy rating on Truist and said that while the sale of Truist Insurance Holdings is not a surprise, he had been expecting a dilution of 40 cents a share from the loss of earnings from the insurance-brokerage unit. Instead, Truist TFC, -1.50%said the dilution