Partners in Financial Planning Purchases New Position in Truist Financial Co. (NYSE:TFC)

Partners in Financial Planning acquired a new position in shares of Truist Financial Co. (NYSE:TFC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,680 shares of the insurance provider’s stock, valued at approximately $593,000.

Several other hedge funds have also recently bought and sold shares of TFC. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Truist Financial by 48.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider’s stock worth $129,000 after purchasing an additional 971 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Truist Financial by 3.5% during the third quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider’s stock worth $64,638,000 after buying an additional 50,637 shares in the last quarter. Country Club Bank boosted its position in shares of Truist Financial by 719.8% in the fourth quarter. Country Club Bank now owns 45,499 shares of the insurance provider’s stock valued at $1,973,000 after acquiring an additional 39,949 shares during the period. David Wealth Management LLC acquired a new position in shares of Truist Financial in the fourth quarter valued at about $2,354,000. Finally, Glass Wealth Management Co LLC increased its position in Truist Financial by 9.5% during the fourth quarter. Glass Wealth Management Co LLC now owns 67,978 shares of the insurance provider’s stock worth $2,949,000 after acquiring an additional 5,900 shares during the period. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Trading Down 2.3 %

TFC opened at $40.46 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83. Truist Financial Co. has a fifty-two week low of $35.09 and a fifty-two week high of $49.06. The company’s 50 day moving average price is $44.78 and its two-hundred day moving average price is $44.44. The firm has a market capitalization of $52.81 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. Truist Financial’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 earnings per share. As a group, research analysts predict that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.14%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s payout ratio is presently 62.46%.

Analyst Ratings Changes

A number of brokerages have issued reports on TFC. Citigroup decreased their target price on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Raymond James raised their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Compass Point raised their price target on Truist Financial from $47.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Morgan Stanley upped their price objective on shares of Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.68.

Truist Financial Company Profile

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.