Cyndeo Wealth Partners LLC Has $7.44 Million Stake in Truist Financial Co. (NYSE:TFC)

Cyndeo Wealth Partners LLC grew its holdings in shares of Truist Financial Co. (NYSE:TFC) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 171,595 shares of the insurance provider’s stock after purchasing an additional 5,682 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Truist Financial were worth $7,444,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in TFC. Intech Investment Management LLC lifted its position in shares of Truist Financial by 63.3% during the 2nd quarter. Intech Investment Management LLC now owns 14,415 shares of the insurance provider’s stock valued at $560,000 after acquiring an additional 5,585 shares during the period. AXA S.A. raised its stake in Truist Financial by 24.3% in the second quarter. AXA S.A. now owns 112,178 shares of the insurance provider’s stock valued at $4,358,000 after purchasing an additional 21,907 shares in the last quarter. AQR Capital Management LLC lifted its position in Truist Financial by 16.7% during the second quarter. AQR Capital Management LLC now owns 878,298 shares of the insurance provider’s stock worth $33,560,000 after purchasing an additional 125,385 shares during the period. APG Asset Management N.V. grew its stake in Truist Financial by 3.5% during the second quarter. APG Asset Management N.V. now owns 3,197,666 shares of the insurance provider’s stock worth $115,913,000 after buying an additional 108,819 shares in the last quarter. Finally, MBB Public Markets I LLC bought a new position in Truist Financial in the 2nd quarter valued at about $3,736,000. 71.28% of the stock is owned by institutional investors.

Truist Financial Price Performance

Truist Financial stock opened at $46.96 on Friday. The stock has a market cap of $62.34 billion, a P/E ratio of 14.10, a P/E/G ratio of 1.67 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average price is $45.48 and its two-hundred day moving average price is $43.83. Truist Financial Co. has a 52 week low of $34.23 and a 52 week high of $49.06.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, January 17th. The insurance provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5,047,370 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.81 EPS. On average, equities analysts predict that Truist Financial Co. will post 3.95 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Barclays increased their price target on shares of Truist Financial from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Hsbc Global Res raised Truist Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. increased their price objective on shares of Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Piper Sandler lifted their price target on Truist Financial from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Morgan Stanley lifted their target price on Truist Financial from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Truist Financial currently has an average rating of “Moderate Buy” and an average target price of $50.79.

Insider Buying and Selling

In other Truist Financial news, CEO William H. Rogers, Jr. bought 34,180 shares of Truist Financial stock in a transaction dated Monday, November 25th. The stock was purchased at an average price of $48.56 per share, for a total transaction of $1,659,780.80. Following the completion of the purchase, the chief executive officer now directly owns 691,451 shares of the company’s stock, valued at approximately $33,576,860.56. This trade represents a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director K. David Jr. Boyer sold 4,966 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $46.20, for a total transaction of $229,429.20. Following the completion of the sale, the director now directly owns 11,246 shares in the company, valued at approximately $519,565.20. This trade represents a 30.63 % decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

Truist Financial 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.