Ameriflex Group Inc. Purchases New Shares in Truist Financial Co. (NYSE:TFC)

Ameriflex Group Inc. purchased a new stake in Truist Financial Co. (NYSE:TFC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,905 shares of the insurance provider’s stock, valued at approximately $91,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TFC. Hopwood Financial Services Inc. acquired a new stake in Truist Financial during the 4th quarter worth about $26,000. Navigoe LLC acquired a new stake in Truist Financial during the 4th quarter worth about $26,000. Curio Wealth LLC acquired a new stake in Truist Financial during the 4th quarter worth about $45,000. Brown Lisle Cummings Inc. acquired a new stake in Truist Financial during the 4th quarter worth about $55,000. Finally, TCTC Holdings LLC boosted its position in Truist Financial by 28.1% during the 4th quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider’s stock worth $57,000 after acquiring an additional 287 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Price Performance

Shares of NYSE:TFC opened at $40.00 on Wednesday. Truist Financial Co. has a 1-year low of $33.56 and a 1-year high of $49.06. The firm has a market capitalization of $52.38 billion, a PE ratio of 12.01, a PEG ratio of 1.63 and a beta of 0.83. The business’s 50 day moving average is $38.72 and its 200-day moving average is $43.03. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting the consensus estimate of $0.87. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. During the same quarter last year, the firm earned $0.90 EPS. Sell-side analysts predict that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 9th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 5.20%. The ex-dividend date of this dividend is Friday, May 9th. Truist Financial’s dividend payout ratio is 61.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods decreased their price objective on Truist Financial from $53.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, April 21st. Piper Sandler cut their price target on Truist Financial from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Stephens cut their price target on Truist Financial from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Baird R W raised Truist Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company cut their price target on Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Truist Financial has an average rating of “Moderate Buy” and an average target price of $47.83.

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.