Prospera Private Wealth LLC Acquires 642 Shares of Truist Financial Co. (NYSE:TFC)

Prospera Private Wealth LLC lifted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 4.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 16,739 shares of the insurance provider’s stock after purchasing an additional 642 shares during the quarter. Prospera Private Wealth LLC’s holdings in Truist Financial were worth $716,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Intech Investment Management LLC bought a new position in shares of Truist Financial in the first quarter valued at about $344,000. O Shaughnessy Asset Management LLC raised its holdings in Truist Financial by 46.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 111,963 shares of the insurance provider’s stock valued at $4,364,000 after acquiring an additional 35,636 shares during the period. UniSuper Management Pty Ltd lifted its position in Truist Financial by 1,117.2% during the first quarter. UniSuper Management Pty Ltd now owns 23,552 shares of the insurance provider’s stock worth $918,000 after acquiring an additional 21,617 shares during the last quarter. Lake Street Advisors Group LLC boosted its holdings in shares of Truist Financial by 44.2% during the first quarter. Lake Street Advisors Group LLC now owns 8,299 shares of the insurance provider’s stock worth $323,000 after acquiring an additional 2,544 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of Truist Financial by 3.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 1,095,158 shares of the insurance provider’s stock valued at $42,722,000 after purchasing an additional 33,333 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. Morgan Stanley upped their price objective on Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods raised their price target on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Royal Bank of Canada boosted their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Compass Point raised their target price on shares of Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. Finally, Wells Fargo & Company boosted their price target on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $46.37.

Truist Financial Stock Performance

NYSE TFC opened at $46.63 on Wednesday. Truist Financial Co. has a fifty-two week low of $31.23 and a fifty-two week high of $47.57. The stock has a market cap of $61.90 billion, a PE ratio of -32.61, a PEG ratio of 1.91 and a beta of 1.05. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The firm’s fifty day moving average price is $43.36 and its two-hundred day moving average price is $41.38.

Truist Financial (NYSE:TFC) last issued its earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. The business had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $5.05 billion. On average, equities analysts expect that Truist Financial Co. will post 3.7 EPS for the current fiscal year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date is Friday, November 8th. Truist Financial’s payout ratio is -145.45%.

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.