Cerity Partners LLC Raises Stock Position in Truist Financial Co. (NYSE:TFC)

Cerity Partners LLC increased its position in shares of Truist Financial Co. (NYSE:TFC) by 4.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 534,204 shares of the insurance provider’s stock after purchasing an additional 24,551 shares during the period. Cerity Partners LLC’s holdings in Truist Financial were worth $19,723,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Fairfield Bush & CO. purchased a new position in shares of Truist Financial during the 1st quarter worth about $25,000. OFI Invest Asset Management bought a new stake in Truist Financial during the 3rd quarter valued at about $26,000. Operose Advisors LLC bought a new stake in Truist Financial during the 3rd quarter valued at about $31,000. Quarry LP bought a new stake in Truist Financial during the 1st quarter valued at about $32,000. Finally, Tyler Stone Wealth Management bought a new stake in Truist Financial during the 3rd quarter valued at about $33,000. 71.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TFC has been the subject of a number of research analyst reports. TheStreet lowered shares of Truist Financial from a “b-” rating to a “c” rating in a report on Tuesday, February 20th. Barclays lifted their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. StockNews.com lowered shares of Truist Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. UBS Group boosted their price target on shares of Truist Financial from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, April 5th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Truist Financial from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $41.47.

Truist Financial Trading Down 1.4 %

NYSE TFC opened at $36.77 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.74. The firm has a market cap of $49.07 billion, a PE ratio of -34.05, a price-to-earnings-growth ratio of 2.27 and a beta of 1.08. The company has a 50 day moving average price of $36.63 and a 200 day moving average price of $34.20. Truist Financial Co. has a 52 week low of $25.56 and a 52 week high of $39.29.

Truist Financial (NYSE:TFC) last released its earnings results on Thursday, January 18th. The insurance provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.13. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same quarter in the previous year, the firm earned $1.30 EPS. As a group, sell-side analysts forecast that Truist Financial Co. will post 3.33 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 5.66%. The ex-dividend date was Thursday, February 8th. Truist Financial’s dividend payout ratio is presently -192.59%.

Insiders Place Their Bets

In other Truist Financial news, Director K. David Jr. Boyer sold 3,764 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the sale, the director now owns 16,132 shares of the company’s stock, valued at approximately $604,627.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is owned by insiders.

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.