Planned Solutions Inc. Acquires New Stake in Truist Financial Co. (NYSE:TFC)

Planned Solutions Inc. bought a new stake in Truist Financial Co. (NYSE:TFC) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,920 shares of the insurance provider’s stock, valued at approximately $108,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fairfield Bush & CO. purchased a new position in Truist Financial during the first quarter worth about $25,000. Quarry LP purchased a new stake in Truist Financial in the 1st quarter valued at about $32,000. OFI Invest Asset Management acquired a new position in Truist Financial in the third quarter valued at about $26,000. Union Savings Bank acquired a new stake in shares of Truist Financial during the second quarter valued at about $36,000. Finally, Operose Advisors LLC acquired a new position in shares of Truist Financial in the 3rd quarter worth approximately $31,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Stephens upgraded Truist Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $41.00 to $43.00 in a research note on Tuesday, March 19th. Piper Sandler raised their price objective on shares of Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. Bank of America raised shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Thursday, January 4th. Barclays increased their price target on Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Raymond James lifted their price target on shares of Truist Financial from $34.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Truist Financial currently has a consensus rating of “Hold” and an average target price of $40.03.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $38.59 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. The company has a 50-day moving average price of $36.36 and a 200 day moving average price of $33.39. The company has a market cap of $51.50 billion, a P/E ratio of -35.73, a PEG ratio of 1.58 and a beta of 1.07. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $38.61.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.13. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same period in the prior year, the business posted $1.30 earnings per share. Research analysts predict that Truist Financial Co. will post 3.39 earnings per share for the current year.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 5.39%. The ex-dividend date was Thursday, February 8th. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.

Insider Activity at Truist Financial

In other news, Director K. David Jr. Boyer sold 3,764 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.48, for a total value of $141,074.72. Following the sale, the director now directly owns 16,132 shares in the company, valued at $604,627.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Truist Financial 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.