Cetera Investment Advisers Has $17.31 Million Stock Position in Truist Financial Co. (NYSE:TFC)

Cetera Investment Advisers grew its position in Truist Financial Co. (NYSE:TFC) by 244.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 444,147 shares of the insurance provider’s stock after buying an additional 315,160 shares during the period. Cetera Investment Advisers’ holdings in Truist Financial were worth $17,313,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Truist Financial by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,238,388 shares of the insurance provider’s stock worth $690,793,000 after purchasing an additional 1,458,248 shares during the period. Capital International Investors grew its stake in Truist Financial by 93.7% in the first quarter. Capital International Investors now owns 11,643,242 shares of the insurance provider’s stock valued at $453,854,000 after acquiring an additional 5,632,493 shares during the period. Dimensional Fund Advisors LP grew its stake in Truist Financial by 11.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,731,538 shares of the insurance provider’s stock valued at $322,395,000 after acquiring an additional 883,416 shares during the period. Norges Bank acquired a new position in Truist Financial in the fourth quarter valued at about $307,787,000. Finally, UBS Group AG grew its stake in Truist Financial by 2.7% in the fourth quarter. UBS Group AG now owns 3,914,044 shares of the insurance provider’s stock valued at $144,507,000 after acquiring an additional 101,288 shares during the period. 71.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total transaction of $295,208.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Cynthia B. Powell sold 6,688 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was purchased at an average price of $43.96 per share, with a total value of $2,518,908.00. Following the completion of the purchase, the chief executive officer now directly owns 569,271 shares in the company, valued at approximately $25,025,153.16. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TFC shares. Barclays boosted their target price on Truist Financial from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Argus boosted their price target on Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. StockNews.com lowered Truist Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. boosted their price target on Truist Financial from $39.50 to $40.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, HSBC boosted their price target on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Truist Financial currently has an average rating of “Hold” and an average target price of $45.30.

Truist Financial Price Performance

NYSE:TFC traded down $1.23 during trading hours on Friday, reaching $42.12. 10,710,437 shares of the company were exchanged, compared to its average volume of 7,670,527. The company has a market capitalization of $56.36 billion, a P/E ratio of -31.91, a P/E/G ratio of 2.03 and a beta of 1.06. Truist Financial Co. has a 1-year low of $26.57 and a 1-year high of $45.31. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50 day moving average of $39.32 and a 200 day moving average of $37.98.

Truist Financial (NYSE:TFC) last issued its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a positive return on equity of 9.18% and a negative net margin of 5.63%. The firm’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.95 earnings per share. Research analysts forecast that Truist Financial Co. will post 3.55 EPS for the current year.

Truist Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.94%. The ex-dividend date of this dividend is Friday, August 9th. Truist Financial’s payout ratio is presently -157.58%.

About Truist Financial

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.