Wellington Management Group LLP Has $9.33 Million Stake in Truist Financial Co. (NYSE:TFC)

Wellington Management Group LLP grew its holdings in shares of Truist Financial Co. (NYSE:TFC) by 475.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 252,719 shares of the insurance provider’s stock after acquiring an additional 208,772 shares during the period. Wellington Management Group LLP’s holdings in Truist Financial were worth $9,330,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Missouri Trust & Investment Co lifted its position in shares of Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 593 shares during the period. Northwest Financial Advisors bought a new position in Truist Financial during the fourth quarter valued at $34,000. Morton Brown Family Wealth LLC increased its holdings in Truist Financial by 236.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 924 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 649 shares during the last quarter. Criterion Capital Advisors LLC bought a new position in Truist Financial during the fourth quarter worth about $38,000. Finally, Tyler Stone Wealth Management purchased a new position in shares of Truist Financial in the third quarter worth about $33,000. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Truist Financial Trading Up 2.6 %

TFC stock opened at $37.86 on Friday. The company has a market capitalization of $50.65 billion, a PE ratio of -28.68, a price-to-earnings-growth ratio of 1.95 and a beta of 1.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.82 and a current ratio of 0.82. Truist Financial Co. has a one year low of $26.57 and a one year high of $40.51. The company’s 50 day moving average price is $37.81 and its two-hundred day moving average price is $37.09.

Truist Financial (NYSE:TFC) last posted its quarterly earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.12. The business had revenue of $4.87 billion during the quarter, compared to analyst estimates of $5.70 billion. Truist Financial had a negative net margin of 4.28% and a positive return on equity of 9.15%. The company’s revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 earnings per share. As a group, analysts predict that Truist Financial Co. will post 3.36 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 10th were given a $0.52 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.08 annualized dividend and a yield of 5.49%. Truist Financial’s payout ratio is currently -157.58%.

Wall Street Analyst Weigh In

Several research analysts recently commented on TFC shares. Stephens raised their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Citigroup boosted their price objective on Truist Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. raised their target price on Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Jefferies Financial Group upped their price target on Truist Financial from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and an average price target of $43.17.

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.