Planned Solutions Inc. Takes $108,000 Position in Truist Financial Co. (NYSE:TFC)

Planned Solutions Inc. purchased a new position in Truist Financial Co. (NYSE:TFC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,920 shares of the insurance provider’s stock, valued at approximately $108,000.

Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Truist Financial by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 117,271,628 shares of the insurance provider’s stock worth $3,355,141,000 after acquiring an additional 365,871 shares during the period. State Street Corp boosted its position in Truist Financial by 1.8% during the second quarter. State Street Corp now owns 59,824,259 shares of the insurance provider’s stock worth $1,815,666,000 after purchasing an additional 1,056,703 shares during the period. Geode Capital Management LLC increased its stake in shares of Truist Financial by 1.4% in the first quarter. Geode Capital Management LLC now owns 23,931,465 shares of the insurance provider’s stock worth $814,557,000 after purchasing an additional 332,642 shares in the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of Truist Financial by 12,034.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock valued at $881,700,000 after purchasing an additional 20,321,500 shares during the period. Finally, Morgan Stanley lifted its stake in shares of Truist Financial by 32.6% during the 4th quarter. Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock valued at $667,443,000 after buying an additional 3,813,439 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on TFC. TheStreet cut shares of Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. UBS Group boosted their price target on shares of Truist Financial from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Barclays raised their price target on Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Royal Bank of Canada upped their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Finally, StockNews.com cut shares of Truist Financial from a “hold” rating to a “sell” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Truist Financial has an average rating of “Hold” and an average target price of $40.03.

Truist Financial Trading Up 2.6 %

Shares of NYSE TFC opened at $38.59 on Thursday. Truist Financial Co. has a 1 year low of $25.56 and a 1 year high of $38.61. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a 50-day moving average of $36.36 and a 200 day moving average of $33.39. The stock has a market cap of $51.50 billion, a P/E ratio of -35.73, a price-to-earnings-growth ratio of 1.58 and a beta of 1.07.

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

Truist Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 5.39%. Truist Financial’s dividend payout ratio is currently -192.59%.

Insiders Place Their Bets

In other news, Director K. David Jr. Boyer sold 3,764 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now owns 16,132 shares in the company, valued at $604,627.36. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.17% of the company’s stock.

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.