AssuredPartners Investment Advisors LLC Makes New Investment in Truist Financial Co. (NYSE:TFC)

AssuredPartners Investment Advisors LLC acquired a new stake in Truist Financial Co. (NYSE:TFC) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 27,799 shares of the insurance provider’s stock, valued at approximately $1,206,000.

A number of other institutional investors have also made changes to their positions in TFC. Quest Partners LLC boosted its stake in shares of Truist Financial by 81.1% during the 3rd quarter. Quest Partners LLC now owns 4,754 shares of the insurance provider’s stock worth $203,000 after buying an additional 2,129 shares during the last quarter. Intech Investment Management LLC raised its holdings in Truist Financial by 34.5% during the third quarter. Intech Investment Management LLC now owns 19,390 shares of the insurance provider’s stock worth $829,000 after acquiring an additional 4,975 shares in the last quarter. Fisher Asset Management LLC boosted its position in Truist Financial by 4.5% during the third quarter. Fisher Asset Management LLC now owns 7,995 shares of the insurance provider’s stock valued at $342,000 after purchasing an additional 345 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in Truist Financial by 835.8% in the third quarter. Loomis Sayles & Co. L P now owns 16,947 shares of the insurance provider’s stock valued at $725,000 after purchasing an additional 15,136 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in shares of Truist Financial by 10.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 20,023 shares of the insurance provider’s stock worth $856,000 after purchasing an additional 1,940 shares during the last quarter. Institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on TFC shares. Citigroup cut their price objective on Truist Financial from $51.00 to $44.00 and set a “neutral” rating for the company in a report on Monday. Morgan Stanley increased their price target on shares of Truist Financial from $55.00 to $56.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Compass Point lifted their price objective on shares of Truist Financial from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Raymond James upped their target price on shares of Truist Financial from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $48.00 to $52.00 in a report on Wednesday, March 5th. Nine investment 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.79.

Truist Financial Stock Down 0.1 %

TFC stock opened at $41.97 on Thursday. Truist Financial Co. has a fifty-two week low of $35.09 and a fifty-two week high of $49.06. 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 stock has a market capitalization of $54.79 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.63 and a beta of 1.08. The business’s fifty day moving average price is $45.00 and its two-hundred day moving average price is $44.43.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm earned $0.81 earnings per share. On average, equities analysts anticipate that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.52 dividend. The ex-dividend date 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.