Truist Financial Co. (NYSE:TFC) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in Truist Financial Co. (NYSE:TFC - Free Report) by 56.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,847 shares of the insurance provider's stock after selling 150,616 shares during the period. Wellington Management Group LLP's holdings in Truist Financial were worth $5,069,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of TFC. Bangor Savings Bank boosted its holdings in Truist Financial by 92.5% during the fourth quarter. Bangor Savings Bank now owns 566 shares of the insurance provider's stock worth $25,000 after purchasing an additional 272 shares during the last quarter. Hopwood Financial Services Inc. acquired a new position in Truist Financial in the 4th quarter valued at about $26,000. Curio Wealth LLC bought a new position in Truist Financial in the 4th quarter valued at about $45,000. City State Bank boosted its holdings in shares of Truist Financial by 158.1% during the fourth quarter. City State Bank now owns 1,169 shares of the insurance provider's stock worth $51,000 after acquiring an additional 716 shares during the period. Finally, Brown Lisle Cummings Inc. bought a new position in Truist Financial during the fourth quarter worth about $55,000. 71.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TFC shares. Keefe, Bruyette & Woods lifted their price target on Truist Financial from $55.00 to $57.00 and gave the company an "outperform" rating in a research note on Tuesday, January 21st. Morgan Stanley reduced their price objective on Truist Financial from $50.00 to $43.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. Robert W. Baird upgraded Truist Financial from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $48.00 to $52.00 in a research note on Wednesday, March 5th. HSBC raised Truist Financial from a "hold" rating to a "buy" rating and set a $50.00 price objective on the stock in a report on Tuesday, January 7th. Finally, Raymond James cut Truist Financial from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $50.22.

Truist Financial Stock Performance

Shares of TFC traded down $0.33 during mid-day trading on Wednesday, reaching $36.16. 2,582,315 shares of the company's stock were exchanged, compared to its average volume of 8,123,377. The business's fifty day simple moving average is $41.90 and its 200-day simple moving average is $43.92. Truist Financial Co. has a 52-week low of $33.56 and a 52-week high of $49.06. The stock has a market capitalization of $47.21 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 1.63 and a beta of 0.91. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.83.

Truist Financial (NYSE:TFC - Get Free Report) last issued its earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.03. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the prior year, the business posted $0.81 EPS. The company's revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities research analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial's payout ratio is currently 62.46%.

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.