Axxcess Wealth Management LLC Acquires 11,001 Shares of Truist Financial Corporation (NYSE:TFC)

Axxcess Wealth Management LLC boosted its position in shares of Truist Financial Corporation (NYSE:TFC - Free Report) by 13.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,066 shares of the insurance provider's stock after buying an additional 11,001 shares during the period. Axxcess Wealth Management LLC's holdings in Truist Financial were worth $3,789,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Capital International Investors boosted its stake in shares of Truist Financial by 26.0% in the 4th quarter. Capital International Investors now owns 90,617,519 shares of the insurance provider's stock valued at $3,930,983,000 after purchasing an additional 18,712,246 shares in the last quarter. Geode Capital Management LLC boosted its position in Truist Financial by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 27,975,691 shares of the insurance provider's stock valued at $1,210,348,000 after buying an additional 534,740 shares in the last quarter. Northern Trust Corp boosted its position in Truist Financial by 20.5% in the fourth quarter. Northern Trust Corp now owns 14,434,173 shares of the insurance provider's stock valued at $626,154,000 after buying an additional 2,452,239 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Truist Financial by 13.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,738,289 shares of the insurance provider's stock valued at $465,827,000 after buying an additional 1,307,252 shares in the last quarter. Finally, FMR LLC boosted its position in Truist Financial by 109.1% in the fourth quarter. FMR LLC now owns 10,460,159 shares of the insurance provider's stock valued at $453,762,000 after buying an additional 5,457,053 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Stephens cut their target price on shares of Truist Financial from $48.00 to $46.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Morgan Stanley cut their target price on shares of Truist Financial from $50.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Monday, April 7th. Wells Fargo & Company cut their target price on shares of Truist Financial from $52.00 to $50.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Raymond James Financial upgraded shares of Truist Financial from a "market perform" rating to an "outperform" rating and set a $50.00 target price on the stock in a research report on Tuesday, July 8th. Finally, Barclays cut their target price on shares of Truist Financial from $51.00 to $47.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $48.44.

Truist Financial Trading Down 0.1%

Truist Financial stock traded down $0.04 during mid-day trading on Friday, hitting $45.46. 8,319,455 shares of the stock were exchanged, compared to its average volume of 8,340,705. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. Truist Financial Corporation has a 12 month low of $33.56 and a 12 month high of $49.06. The firm's fifty day simple moving average is $41.10 and its two-hundred day simple moving average is $41.99. The stock has a market capitalization of $59.53 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 1.69 and a beta of 0.85.

Truist Financial (NYSE:TFC - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The insurance provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. The company had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.99 billion. Truist Financial had a net margin of 15.59% and a return on equity of 8.96%. During the same quarter in the previous year, the business posted $0.90 EPS. Analysts forecast that Truist Financial Corporation will post 4 EPS for the current year.

Truist Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.08 annualized dividend and a dividend yield of 4.58%. Truist Financial's dividend payout ratio is currently 61.36%.

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.