Axxcess Wealth Management LLC Acquires 11,699 Shares of Truist Financial Co. (NYSE:TFC)

Axxcess Wealth Management LLC lifted its holdings in shares of Truist Financial Co. (NYSE:TFC) by 18.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 73,744 shares of the insurance provider’s stock after purchasing an additional 11,699 shares during the period. Axxcess Wealth Management LLC’s holdings in Truist Financial were worth $2,723,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in TFC. U.S. Capital Wealth Advisors LLC purchased a new position in shares of Truist Financial in the fourth quarter worth about $5,350,000. Merit Financial Group LLC lifted its position in Truist Financial by 31.4% in the fourth quarter. Merit Financial Group LLC now owns 14,906 shares of the insurance provider’s stock valued at $550,000 after purchasing an additional 3,564 shares during the last quarter. Bare Financial Services Inc purchased a new stake in shares of Truist Financial during the fourth quarter valued at approximately $77,000. Loudon Investment Management LLC grew its holdings in shares of Truist Financial by 1.3% in the fourth quarter. Loudon Investment Management LLC now owns 133,096 shares of the insurance provider’s stock worth $4,914,000 after purchasing an additional 1,698 shares during the last quarter. Finally, Carson Advisory Inc. increased its stake in shares of Truist Financial by 1.5% in the fourth quarter. Carson Advisory Inc. now owns 21,928 shares of the insurance provider’s stock worth $810,000 after buying an additional 315 shares during the period. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Wall Street Analyst Weigh In

TFC has been the topic of a number of analyst reports. Piper Sandler boosted their price objective on shares of Truist Financial from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, January 19th. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price objective on Truist Financial from $39.50 to $40.50 and gave the stock a “neutral” rating in a research report on Wednesday. Jefferies Financial Group raised their price target on Truist Financial from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Finally, Stephens reissued an “overweight” rating and set a $43.00 price objective on shares of Truist Financial in a research report on Tuesday, April 23rd. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $41.88.

Truist Financial Trading Up 1.3 %

Shares of NYSE TFC traded up $0.50 during trading on Friday, reaching $38.85. The company had a trading volume of 8,081,419 shares, compared to its average volume of 8,655,990. Truist Financial Co. has a 12-month low of $25.56 and a 12-month high of $39.29. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.75. The business’s 50-day moving average is $37.16 and its 200 day moving average is $35.14.

Truist Financial (NYSE:TFC) last issued its earnings results on Monday, April 22nd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.12. Truist Financial had a positive return on equity of 9.15% and a negative net margin of 4.28%. The firm had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the firm posted $1.09 earnings per share. The business’s revenue was down 8.8% compared to the same quarter last year. On average, sell-side analysts predict that Truist Financial Co. will post 3.3 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 10th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date of this dividend is Thursday, May 9th. Truist Financial’s dividend payout ratio is currently -157.58%.

Insider Buying and Selling

In other news, Director K. David Jr. Boyer sold 3,764 shares of Truist Financial stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $37.48, for a total transaction of $141,074.72. Following the completion of the sale, the director now owns 16,132 shares of the company’s stock, valued at $604,627.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is currently owned by insiders.

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.