Cerity Partners LLC Grows Stock Holdings in Truist Financial Co. (NYSE:TFC)

Cerity Partners LLC grew its stake in shares of Truist Financial Co. (NYSE:TFC) by 0.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 543,110 shares of the insurance provider’s stock after acquiring an additional 4,088 shares during the period. Cerity Partners LLC’s holdings in Truist Financial were worth $23,229,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of TFC. Certified Advisory Corp raised its holdings in shares of Truist Financial by 6.7% in the third quarter. Certified Advisory Corp now owns 23,742 shares of the insurance provider’s stock valued at $1,015,000 after acquiring an additional 1,487 shares in the last quarter. Waddell & Associates LLC purchased a new stake in Truist Financial during the third quarter valued at approximately $246,000. Nwam LLC acquired a new stake in shares of Truist Financial in the 3rd quarter worth $348,000. Meridian Wealth Management LLC grew its stake in Truist Financial by 1.3% during the 3rd quarter. Meridian Wealth Management LLC now owns 21,733 shares of the insurance provider’s stock worth $930,000 after buying an additional 280 shares during the last quarter. Finally, Banco Santander S.A. purchased a new stake in shares of Truist Financial during the third quarter worth about $238,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on TFC shares. Compass Point lifted their price target on Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their price target on shares of Truist Financial from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. UBS Group boosted their price objective on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. Finally, StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $46.37.

Truist Financial Price Performance

Truist Financial stock opened at $47.96 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The business has a fifty day moving average of $43.68 and a two-hundred day moving average of $41.54. Truist Financial Co. has a one year low of $31.23 and a one year high of $48.06. The company has a market cap of $63.67 billion, a P/E ratio of -33.54, a price-to-earnings-growth ratio of 1.97 and a beta of 1.05.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.08. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. As a group, analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend is Friday, November 8th. Truist Financial’s payout ratio is -145.45%.

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.