Cerity Partners LLC Purchases 24,457 Shares of Truist Financial Corporation $TFC

Cerity Partners LLC grew its position in Truist Financial Corporation (NYSE:TFC) by 4.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 601,445 shares of the insurance provider’s stock after acquiring an additional 24,457 shares during the quarter. Cerity Partners LLC’s holdings in Truist Financial were worth $29,598,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. 3Chopt Investment Partners LLC boosted its holdings in shares of Truist Financial by 1.3% in the 4th quarter. 3Chopt Investment Partners LLC now owns 14,713 shares of the insurance provider’s stock valued at $724,000 after buying an additional 193 shares in the last quarter. IFP Advisors Inc boosted its stake in Truist Financial by 2.4% in the 4th quarter. IFP Advisors Inc now owns 8,205 shares of the insurance provider’s stock worth $404,000 after purchasing an additional 194 shares in the last quarter. AlphaCore Capital LLC boosted its stake in Truist Financial by 8.3% in the 4th quarter. AlphaCore Capital LLC now owns 2,609 shares of the insurance provider’s stock worth $128,000 after purchasing an additional 199 shares in the last quarter. CYBER HORNET ETFs LLC boosted its stake in Truist Financial by 5.5% in the 4th quarter. CYBER HORNET ETFs LLC now owns 3,820 shares of the insurance provider’s stock worth $188,000 after purchasing an additional 199 shares in the last quarter. Finally, Alliance Wealth Advisors LLC boosted its stake in Truist Financial by 1.8% in the 4th quarter. Alliance Wealth Advisors LLC now owns 11,298 shares of the insurance provider’s stock worth $556,000 after purchasing an additional 205 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors.

Truist Financial Stock Performance

TFC opened at $49.78 on Thursday. Truist Financial Corporation has a 12-month low of $38.83 and a 12-month high of $56.19. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $62.01 billion, a PE ratio of 12.35, a P/E/G ratio of 0.85 and a beta of 0.89. The firm has a 50 day moving average of $48.90 and a two-hundred day moving average of $49.10.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Friday, April 17th. The insurance provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same period last year, the firm posted $0.87 EPS. Truist Financial’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, analysts anticipate that Truist Financial Corporation will post 4.52 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. Truist Financial’s dividend payout ratio (DPR) is currently 51.61%.

Wall Street Analyst Weigh In

A number of research firms recently commented on TFC. JPMorgan Chase & Co. lowered their target price on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 target price for the company. in a research note on Friday, May 1st. Weiss Ratings upgraded shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Wall Street Zen upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Finally, Royal Bank Of Canada lifted their target price on shares of Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.59.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.