Apexium Financial LP Has $259,000 Holdings in Truist Financial Corporation $TFC

Apexium Financial LP grew its position in Truist Financial Corporation (NYSE:TFC) by 10.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,018 shares of the insurance provider’s stock after purchasing an additional 587 shares during the quarter. Apexium Financial LP’s holdings in Truist Financial were worth $259,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Foster Victor Wealth Advisors LLC grew its position in shares of Truist Financial by 0.4% in the second quarter. Foster Victor Wealth Advisors LLC now owns 62,087 shares of the insurance provider’s stock valued at $2,804,000 after purchasing an additional 242 shares during the last quarter. Klingman & Associates LLC grew its stake in shares of Truist Financial by 2.2% in the first quarter. Klingman & Associates LLC now owns 11,756 shares of the insurance provider’s stock valued at $484,000 after acquiring an additional 248 shares in the last quarter. Haverford Trust Co grew its stake in shares of Truist Financial by 3.5% in the first quarter. Haverford Trust Co now owns 7,751 shares of the insurance provider’s stock valued at $319,000 after acquiring an additional 262 shares in the last quarter. Keystone Financial Group Inc. grew its stake in shares of Truist Financial by 1.3% in the second quarter. Keystone Financial Group Inc. now owns 21,283 shares of the insurance provider’s stock valued at $942,000 after acquiring an additional 266 shares in the last quarter. Finally, Manchester Capital Management LLC grew its stake in shares of Truist Financial by 8.0% in the first quarter. Manchester Capital Management LLC now owns 3,898 shares of the insurance provider’s stock valued at $160,000 after acquiring an additional 288 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TFC. Raymond James Financial upgraded shares of Truist Financial from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Tuesday, July 8th. Evercore ISI upped their price target on shares of Truist Financial from $48.00 to $50.00 and gave the company an “in-line” rating in a research note on Tuesday. Wells Fargo & Company restated an “equal weight” rating and issued a $47.00 price target on shares of Truist Financial in a research note on Thursday, August 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Truist Financial in a research note on Saturday, September 27th. Finally, Keefe, Bruyette & Woods cut shares of Truist Financial from an “outperform” rating to a “market perform” rating and set a $48.00 price objective for the company. in a research report on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $48.89.

Truist Financial Trading Up 0.4%

TFC opened at $45.53 on Friday. Truist Financial Corporation has a twelve month low of $33.56 and a twelve month high of $49.06. The company has a 50-day simple moving average of $45.15 and a 200 day simple moving average of $42.08. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $58.71 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 1.46 and a beta of 0.88.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Friday, July 18th. The insurance provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.02). The firm had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $5.04 billion. Truist Financial had a return on equity of 8.69% and a net margin of 16.82%.The company’s revenue for the quarter was down 406.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 EPS. Analysts predict that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 8th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.6%. Truist Financial’s dividend payout ratio is 56.68%.

Insider Activity at Truist Financial

In other news, insider Bradley D. Bender sold 12,540 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $45.19, for a total value of $566,682.60. Following the completion of the transaction, the insider owned 500 shares of the company’s stock, valued at approximately $22,595. This represents a 96.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.17% of the company’s stock.

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.