Cyndeo Wealth Partners LLC Has $820,000 Stock Holdings in Truist Financial Corporation $TFC

Cyndeo Wealth Partners LLC lessened its position in Truist Financial Corporation (NYSE:TFC) by 89.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,065 shares of the insurance provider’s stock after selling 163,089 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Truist Financial were worth $820,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Amundi grew its stake in Truist Financial by 4.6% in the first quarter. Amundi now owns 24,774,656 shares of the insurance provider’s stock valued at $1,019,477,000 after purchasing an additional 1,091,311 shares in the last quarter. Invesco Ltd. grew its stake in Truist Financial by 32.0% in the first quarter. Invesco Ltd. now owns 13,140,282 shares of the insurance provider’s stock valued at $540,723,000 after purchasing an additional 3,188,999 shares in the last quarter. American Century Companies Inc. grew its stake in Truist Financial by 21.8% in the first quarter. American Century Companies Inc. now owns 12,041,524 shares of the insurance provider’s stock valued at $495,509,000 after purchasing an additional 2,158,639 shares in the last quarter. Federated Hermes Inc. grew its stake in Truist Financial by 0.9% in the first quarter. Federated Hermes Inc. now owns 9,511,639 shares of the insurance provider’s stock valued at $391,404,000 after purchasing an additional 89,373 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Truist Financial by 5.4% in the first quarter. Dimensional Fund Advisors LP now owns 8,030,898 shares of the insurance provider’s stock valued at $330,408,000 after purchasing an additional 408,726 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Citigroup upgraded Truist Financial from a “neutral” rating to a “buy” rating and raised their price target for the company from $44.00 to $55.00 in a research note on Thursday, June 26th. Morgan Stanley lifted their target price on Truist Financial from $48.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Monday, September 29th. Wells Fargo & Company reiterated an “equal weight” rating and set a $47.00 target price on shares of Truist Financial in a research note on Thursday, August 21st. Raymond James Financial reiterated an “outperform” rating on shares of Truist Financial in a research note on Tuesday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Truist Financial in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Truist Financial has an average rating of “Moderate Buy” and a consensus price target of $48.89.

Truist Financial Stock Performance

NYSE:TFC opened at $42.32 on Friday. The stock has a market cap of $54.57 billion, a P/E ratio of 11.53, a PEG ratio of 1.42 and a beta of 0.88. The stock has a 50 day simple moving average of $45.16 and a 200 day simple moving average of $42.16. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.75. Truist Financial Corporation has a 1-year low of $33.56 and a 1-year high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.02). The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $5.04 billion. Truist Financial had a net margin of 16.82% and a return on equity of 8.69%. Truist Financial’s revenue was down 406.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 earnings per share. Research analysts anticipate that Truist Financial Corporation will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 8th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.08 annualized dividend and a yield of 4.9%. Truist Financial’s payout ratio is currently 56.68%.

Insiders Place Their Bets

In other Truist Financial news, insider Bradley D. Bender sold 12,540 shares of Truist Financial stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $45.19, for a total value of $566,682.60. Following the completion of the transaction, the insider directly owned 500 shares of the company’s stock, valued at $22,595. The trade was a 96.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by corporate insiders.

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.