Prosperity Consulting Group LLC Has $565,000 Stock Position in Truist Financial Co. (NYSE:TFC)

Prosperity Consulting Group LLC grew its position in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 150.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 13,023 shares of the insurance provider's stock after acquiring an additional 7,814 shares during the period. Prosperity Consulting Group LLC's holdings in Truist Financial were worth $565,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. raised its stake in Truist Financial by 48.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,963 shares of the insurance provider's stock worth $129,000 after acquiring an additional 971 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Truist Financial by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,511,299 shares of the insurance provider's stock valued at $64,638,000 after acquiring an additional 50,637 shares during the last quarter. Country Club Bank boosted its holdings in shares of Truist Financial by 719.8% in the 4th quarter. Country Club Bank now owns 45,499 shares of the insurance provider's stock worth $1,973,000 after purchasing an additional 39,949 shares during the period. David Wealth Management LLC purchased a new position in Truist Financial during the fourth quarter worth $2,354,000. Finally, Glass Wealth Management Co LLC grew its holdings in Truist Financial by 9.5% during the 4th quarter. Glass Wealth Management Co LLC now owns 67,978 shares of the insurance provider's stock valued at $2,949,000 after purchasing an additional 5,900 shares during the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Performance

Shares of Truist Financial stock traded down $0.39 during trading hours on Wednesday, reaching $38.37. The company's stock had a trading volume of 7,391,525 shares, compared to its average volume of 8,175,606. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 0.83. The company's 50 day simple moving average is $39.73 and its 200 day simple moving average is $43.51. Truist Financial Co. has a one year low of $33.56 and a one year high of $49.06. The stock has a market cap of $50.09 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91.

Truist Financial (NYSE:TFC - Get Free Report) last released its earnings results on Thursday, April 17th. The insurance provider reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. Truist Financial had a net margin of 15.59% and a return on equity of 9.32%. The firm had revenue of $4.95 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter last year, the company earned $0.90 EPS. As a group, analysts expect that Truist Financial Co. will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 9th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.42%. The ex-dividend date is Friday, May 9th. Truist Financial's dividend payout ratio (DPR) is currently 61.36%.

Wall Street Analyst Weigh In

Several research firms recently commented on TFC. Citigroup reduced their price target on shares of Truist Financial from $51.00 to $44.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Keefe, Bruyette & Woods cut their target price on Truist Financial from $53.00 to $47.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Wells Fargo & Company decreased their price objective on Truist Financial from $52.00 to $50.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Piper Sandler dropped their target price on shares of Truist Financial from $45.00 to $41.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Finally, Hsbc Global Res raised Truist Financial from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $47.83.

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.