Truist Financial Corporation $TFC Shares Bought by Cerity Partners LLC

Cerity Partners LLC grew its position in Truist Financial Corporation (NYSE:TFC) by 2.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 544,251 shares of the insurance provider’s stock after buying an additional 11,745 shares during the quarter. Cerity Partners LLC’s holdings in Truist Financial were worth $23,402,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TFC. Federated Hermes Inc. grew its position in Truist Financial by 1.3% in the 2nd quarter. Federated Hermes Inc. now owns 9,632,481 shares of the insurance provider’s stock valued at $414,100,000 after acquiring an additional 120,842 shares in the last quarter. Jump Financial LLC boosted its stake in shares of Truist Financial by 955.7% in the second quarter. Jump Financial LLC now owns 94,270 shares of the insurance provider’s stock valued at $4,053,000 after purchasing an additional 85,340 shares during the period. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Truist Financial by 106.6% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 6,499 shares of the insurance provider’s stock valued at $279,000 after purchasing an additional 3,353 shares in the last quarter. Victory Financial Group LLC purchased a new stake in Truist Financial during the 2nd quarter worth approximately $244,000. Finally, StoneX Group Inc. lifted its holdings in Truist Financial by 1.4% during the 2nd quarter. StoneX Group Inc. now owns 85,545 shares of the insurance provider’s stock worth $3,678,000 after buying an additional 1,142 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Up 0.4%

Shares of NYSE TFC opened at $47.89 on Wednesday. The company has a market capitalization of $61.26 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 1.03 and a beta of 0.90. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50-day moving average of $44.87 and a two-hundred day moving average of $44.14. Truist Financial Corporation has a 1 year low of $33.56 and a 1 year high of $48.55.

Truist Financial (NYSE:TFC) last released its quarterly earnings data on Friday, October 17th. The insurance provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. Truist Financial had a return on equity of 8.73% and a net margin of 16.84%.The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.20 billion. During the same quarter in the prior year, the business posted $0.97 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, analysts forecast that Truist Financial Corporation will post 4 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were issued a $0.52 dividend. The ex-dividend date was Friday, November 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.3%. Truist Financial’s dividend payout ratio is presently 55.91%.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 5,160 shares of Truist Financial stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $46.45, for a total transaction of $239,682.00. Following the sale, the director directly owned 10,153 shares in the company, valued at $471,606.85. This trade represents a 33.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Truist Financial from $54.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, October 20th. Raymond James Financial reiterated an “outperform” rating on shares of Truist Financial in a report on Tuesday, October 7th. Wall Street Zen cut Truist Financial from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $47.00 price target on shares of Truist Financial in a research report on Thursday, August 21st. Finally, Evercore ISI lifted their price objective on Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.60.

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.