Truist Financial Co. (NYSE:TFC) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC trimmed its stake in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 6.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,314,836 shares of the insurance provider's stock after selling 84,406 shares during the period. Douglas Lane & Associates LLC owned 0.10% of Truist Financial worth $56,236,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Sunpointe LLC purchased a new position in shares of Truist Financial in the fourth quarter valued at approximately $249,000. V Square Quantitative Management LLC boosted its stake in Truist Financial by 35.1% during the 4th quarter. V Square Quantitative Management LLC now owns 22,632 shares of the insurance provider's stock worth $836,000 after purchasing an additional 5,877 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Truist Financial during the fourth quarter worth $257,000. Northwest Bank & Trust Co acquired a new stake in shares of Truist Financial in the fourth quarter valued at about $776,000. Finally, Wellington Management Group LLP lifted its stake in shares of Truist Financial by 475.1% in the fourth quarter. Wellington Management Group LLP now owns 252,719 shares of the insurance provider's stock worth $9,330,000 after buying an additional 208,772 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company's stock.

Truist Financial Stock Up 1.8 %

Shares of NYSE:TFC traded up $0.77 during trading on Friday, hitting $43.26. 15,639,570 shares of the company were exchanged, compared to its average volume of 7,080,638. The firm's 50 day moving average price is $42.45 and its 200-day moving average price is $40.12. Truist Financial Co. has a 12-month low of $26.95 and a 12-month 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 stock has a market capitalization of $57.93 billion, a P/E ratio of -26.70, a PEG ratio of 1.78 and a beta of 1.05.

Truist Financial (NYSE:TFC - Get Free Report) last announced its 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 analyst estimates of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The company's revenue for the quarter was down 15.9% compared to the same quarter last year. During the same period last year, the firm posted $0.95 earnings per share. On average, research analysts predict that Truist Financial Co. will post 3.55 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend was Friday, August 9th. Truist Financial's dividend payout ratio is presently -128.40%.

Wall Street Analysts Forecast Growth

TFC has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the company an "equal weight" rating in a report on Tuesday, July 30th. Citigroup cut Truist Financial from a "buy" rating to a "neutral" rating and upped their target price for the company from $45.00 to $47.00 in a report on Wednesday, July 24th. Argus boosted their price target on shares of Truist Financial from $44.00 to $51.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods raised their price objective on shares of Truist Financial from $46.00 to $48.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 23rd. Finally, StockNews.com lowered Truist Financial from a "hold" rating to a "sell" rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Truist Financial currently has an average rating of "Hold" and an average price target of $45.45.

Insider Buying and Selling at Truist Financial

In other news, CEO William H. Rogers, Jr. acquired 57,300 shares of the business's stock in a transaction on Tuesday, July 23rd. The stock was bought at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the transaction, the chief executive officer now owns 569,271 shares in the company, valued at $25,025,153.16. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Cynthia B. Powell sold 6,688 shares of the firm's stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William H. Rogers, Jr. bought 57,300 shares of the firm's stock in a transaction on Tuesday, July 23rd. The shares were purchased at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the transaction, the chief executive officer now owns 569,271 shares of the company's stock, valued at $25,025,153.16. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company's stock.

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.