PDS Planning Inc Purchases Shares of 5,572 Truist Financial Co. (NYSE:TFC)

PDS Planning Inc acquired a new position in Truist Financial Co. (NYSE:TFC) during the third quarter, Holdings Channel reports. The institutional investor acquired 5,572 shares of the insurance provider’s stock, valued at approximately $238,000.

Other large investors have also made changes to their positions in the company. Asset Management One Co. Ltd. raised its stake in Truist Financial by 4.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 509,439 shares of the insurance provider’s stock valued at $21,789,000 after purchasing an additional 20,862 shares during the last quarter. National Pension Service raised its position in shares of Truist Financial by 14.5% during the third quarter. National Pension Service now owns 3,401,518 shares of the insurance provider’s stock valued at $145,483,000 after buying an additional 431,741 shares during the last quarter. Intact Investment Management Inc. lifted its stake in shares of Truist Financial by 8.6% in the third quarter. Intact Investment Management Inc. now owns 204,960 shares of the insurance provider’s stock valued at $8,766,000 after buying an additional 16,300 shares during the period. TrueWealth Advisors LLC acquired a new stake in Truist Financial during the third quarter worth about $208,000. Finally, Fort Pitt Capital Group LLC increased its stake in Truist Financial by 1.9% during the third quarter. Fort Pitt Capital Group LLC now owns 90,581 shares of the insurance provider’s stock valued at $3,874,000 after acquiring an additional 1,728 shares during the period. Institutional investors and hedge funds own 71.28% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on TFC. Citigroup lowered Truist Financial from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $45.00 to $47.00 in a report on Wednesday, July 24th. The Goldman Sachs Group decreased their price target on shares of Truist Financial from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. UBS Group upped their target price on shares of Truist Financial from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada raised their price target on shares of Truist Financial from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $46.02.

Truist Financial Trading Up 0.6 %

Shares of NYSE TFC opened at $42.32 on Wednesday. Truist Financial Co. has a 1-year low of $28.93 and a 1-year high of $45.31. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average of $42.76 and a two-hundred day moving average of $40.81. The company has a market cap of $56.67 billion, a PE ratio of -29.59, a P/E/G ratio of 1.77 and a beta of 1.05.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a $0.52 dividend. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.91%. Truist Financial’s payout ratio is -145.45%.

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.