AssuredPartners Investment Advisors LLC Takes $1.21 Million Position in Truist Financial Co. (NYSE:TFC)

AssuredPartners Investment Advisors LLC acquired a new stake in Truist Financial Co. (NYSE:TFC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 27,799 shares of the insurance provider’s stock, valued at approximately $1,206,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. PBMares Wealth Management LLC raised its stake in shares of Truist Financial by 0.8% in the fourth quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock worth $1,270,000 after acquiring an additional 224 shares during the last quarter. Koshinski Asset Management Inc. increased its holdings in shares of Truist Financial by 2.1% in the fourth quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock valued at $470,000 after purchasing an additional 225 shares in the last quarter. Aaron Wealth Advisors LLC raised its position in Truist Financial by 3.0% in the 4th quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock worth $335,000 after purchasing an additional 227 shares during the last quarter. FWG Holdings LLC lifted its holdings in Truist Financial by 4.3% during the 4th quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock worth $267,000 after buying an additional 234 shares in the last quarter. Finally, Ignite Planners LLC lifted its holdings in Truist Financial by 1.4% during the 4th quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock worth $772,000 after buying an additional 246 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TFC has been the subject of a number of recent research reports. Hsbc Global Res upgraded Truist Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Stephens lifted their price objective on Truist Financial from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Robert W. Baird upgraded shares of Truist Financial from a “neutral” rating to an “outperform” rating and upped their target price for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Finally, Piper Sandler boosted their price target on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.79.

Truist Financial Stock Down 0.1 %

Shares of Truist Financial stock opened at $41.97 on Thursday. The company has a market capitalization of $54.79 billion, a P/E ratio of 12.60, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. The business has a 50-day moving average of $45.00 and a two-hundred day moving average of $44.43. Truist Financial Co. has a 1 year low of $35.09 and a 1 year high of $49.06.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same period in the prior year, the business earned $0.81 EPS. Truist Financial’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities analysts predict that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.96%. Truist Financial’s payout ratio is 62.46%.

About Truist Financial

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.