Truist Financial Co. (NYSE:TFC) Shares Bought by Welch Group LLC

Welch Group LLC boosted its position in shares of Truist Financial Co. (NYSE:TFC - Free Report) by 0.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,254,371 shares of the insurance provider's stock after acquiring an additional 6,949 shares during the period. Truist Financial comprises 2.2% of Welch Group LLC's investment portfolio, making the stock its 28th biggest holding. Welch Group LLC owned about 0.10% of Truist Financial worth $50,752,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new position in shares of Truist Financial during the fourth quarter worth $26,000. Navigoe LLC acquired a new position in shares of Truist Financial during the 4th quarter worth about $26,000. Curio Wealth LLC acquired a new position in shares of Truist Financial during the 4th quarter worth about $45,000. Brown Lisle Cummings Inc. acquired a new position in shares of Truist Financial during the 4th quarter worth about $55,000. Finally, TCTC Holdings LLC boosted its position in shares of Truist Financial by 28.1% during the 4th quarter. TCTC Holdings LLC now owns 1,310 shares of the insurance provider's stock worth $57,000 after acquiring an additional 287 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company's stock.

Truist Financial Stock Performance

Shares of TFC traded down $0.16 during mid-day trading on Friday, hitting $39.44. 10,480,959 shares of the company's stock were exchanged, compared to its average volume of 8,279,124. Truist Financial Co. has a fifty-two week low of $33.56 and a fifty-two week high of $49.06. The firm has a market capitalization of $51.65 billion, a P/E ratio of 11.84, a P/E/G ratio of 1.63 and a beta of 0.83. The business's 50 day moving average is $38.58 and its two-hundred day moving average is $42.90. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61.

Truist Financial (NYSE:TFC - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, hitting analysts' consensus estimates of $0.87. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company had revenue of $4.95 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same period last year, the firm earned $0.90 EPS. On average, equities analysts expect that Truist Financial Co. will post 4 earnings per share for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Friday, May 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.27%. The ex-dividend date is Friday, May 9th. Truist Financial's dividend payout ratio is presently 61.36%.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of research analyst reports. Argus set a $43.00 price target on Truist Financial in a report on Monday, April 21st. Wall Street Zen upgraded shares of Truist Financial from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Barclays lowered their target price on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Citigroup lowered their target price on shares of Truist Financial from $51.00 to $44.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Finally, Morgan Stanley decreased their price objective on shares of 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. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $47.83.

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.