Prevail Innovative Wealth Advisors LLC Invests $304,000 in Truist Financial Co. (NYSE:TFC)

Prevail Innovative Wealth Advisors LLC bought a new position in shares of Truist Financial Co. (NYSE:TFC) in the fourth quarter, Holdings Channel reports. The firm bought 6,998 shares of the insurance provider’s stock, valued at approximately $304,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. PBMares Wealth Management LLC boosted its position in Truist Financial by 0.8% during the 4th quarter. PBMares Wealth Management LLC now owns 29,270 shares of the insurance provider’s stock worth $1,270,000 after purchasing an additional 224 shares during the period. Koshinski Asset Management Inc. boosted its position in shares of Truist Financial by 2.1% in the fourth quarter. Koshinski Asset Management Inc. now owns 10,825 shares of the insurance provider’s stock worth $470,000 after buying an additional 225 shares during the period. Aaron Wealth Advisors LLC grew its stake in shares of Truist Financial by 3.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 7,712 shares of the insurance provider’s stock valued at $335,000 after buying an additional 227 shares in the last quarter. FWG Holdings LLC raised its holdings in shares of Truist Financial by 4.3% during the 4th quarter. FWG Holdings LLC now owns 5,694 shares of the insurance provider’s stock valued at $267,000 after buying an additional 234 shares during the period. Finally, Ignite Planners LLC lifted its position in Truist Financial by 1.4% during the 4th quarter. Ignite Planners LLC now owns 17,499 shares of the insurance provider’s stock worth $772,000 after acquiring an additional 246 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Trading Down 2.3 %

NYSE:TFC opened at $40.46 on Monday. The firm has a market capitalization of $52.81 billion, a P/E ratio of 12.15, a P/E/G ratio of 1.63 and a beta of 1.08. The business has a 50 day simple moving average of $44.78 and a 200 day simple moving average of $44.44. 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 12-month low of $35.09 and a 12-month high of $49.06.

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

Truist Financial Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective 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. Wells Fargo & Company decreased their price objective on shares of Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday. HSBC raised Truist Financial from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, January 7th. Robert W. Baird upgraded Truist Financial from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $48.00 to $52.00 in a research note on Wednesday, March 5th. Finally, Raymond James lifted their price objective on Truist Financial from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.68.

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.