Meeder Advisory Services Inc. Grows Stock Holdings in Truist Financial Co. (NYSE:TFC)

Meeder Advisory Services Inc. lifted its position in Truist Financial Co. (NYSE:TFC) by 5.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 28,097 shares of the insurance provider’s stock after buying an additional 1,527 shares during the period. Meeder Advisory Services Inc.’s holdings in Truist Financial were worth $1,202,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new position in shares of Truist Financial during the 3rd quarter worth approximately $32,000. Cassaday & Co Wealth Management LLC grew its stake in Truist Financial by 24.0% during the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 13,530 shares of the insurance provider’s stock valued at $579,000 after purchasing an additional 2,617 shares during the last quarter. Quest Partners LLC increased its holdings in Truist Financial by 81.1% in the 3rd quarter. Quest Partners LLC now owns 4,754 shares of the insurance provider’s stock worth $203,000 after buying an additional 2,129 shares during the period. Glass Wealth Management Co LLC increased its stake in shares of Truist Financial by 55.7% in the third quarter. Glass Wealth Management Co LLC now owns 62,078 shares of the insurance provider’s stock worth $2,655,000 after acquiring an additional 22,208 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Truist Financial by 17.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 82,255 shares of the insurance provider’s stock valued at $3,518,000 after buying an additional 12,300 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Analyst Ratings Changes

TFC has been the subject of a number of recent analyst reports. Citigroup cut Truist Financial from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $45.00 to $47.00 in a research report on Wednesday, July 24th. Morgan Stanley lifted their price target on Truist Financial from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Wells Fargo & Company lifted their target price on Truist Financial from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday. Argus raised their price target on Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $46.37.

Truist Financial Trading Up 0.5 %

TFC opened at $46.79 on Tuesday. The stock has a fifty day moving average of $43.27 and a 200-day moving average of $41.33. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. Truist Financial Co. has a 12-month low of $31.23 and a 12-month high of $47.57.

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

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend 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.