Healthcare of Ontario Pension Plan Trust Fund Lowers Position in Truist Financial Co. (NYSE:TFC)

Healthcare of Ontario Pension Plan Trust Fund cut its stake in shares of Truist Financial Co. (NYSE:TFC) by 19.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 340,000 shares of the insurance provider’s stock after selling 82,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Truist Financial were worth $14,542,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of TFC. Assenagon Asset Management S.A. boosted its stake in shares of Truist Financial by 316.4% in the third quarter. Assenagon Asset Management S.A. now owns 2,117,950 shares of the insurance provider’s stock worth $90,585,000 after acquiring an additional 1,609,351 shares during the period. Swedbank AB purchased a new position in Truist Financial in the 1st quarter worth approximately $29,957,000. LPL Financial LLC lifted its holdings in Truist Financial by 21.0% in the 3rd quarter. LPL Financial LLC now owns 3,630,761 shares of the insurance provider’s stock worth $155,288,000 after purchasing an additional 630,628 shares in the last quarter. GW Henssler & Associates Ltd. boosted its stake in Truist Financial by 4,435.3% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 505,145 shares of the insurance provider’s stock worth $21,605,000 after purchasing an additional 494,007 shares during the period. Finally, FMR LLC grew its holdings in Truist Financial by 10.6% during the 3rd quarter. FMR LLC now owns 5,003,106 shares of the insurance provider’s stock valued at $213,983,000 after buying an additional 478,886 shares in the last quarter. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Truist Financial

In other news, CEO William H. Rogers, Jr. bought 34,180 shares of the stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the acquisition, the chief executive officer now owns 691,451 shares of the company’s stock, valued at $33,576,860.56. This represents a 5.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TFC. Keefe, Bruyette & Woods upped their target price on shares of Truist Financial from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Wolfe Research raised shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a report on Friday, August 9th. UBS Group lifted their target price on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. The Goldman Sachs Group boosted their target price on Truist Financial from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Compass Point raised their price target on Truist Financial from $46.00 to $47.00 in a report on Wednesday, October 16th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $47.17.

Truist Financial Trading Up 0.1 %

Shares of Truist Financial stock opened at $47.75 on Friday. The stock’s fifty day moving average is $44.13 and its two-hundred day moving average is $41.75. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.62. Truist Financial Co. has a 52 week low of $31.23 and a 52 week high of $49.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings data on Thursday, October 17th. The insurance provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08. The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.05 billion. Truist Financial had a positive return on equity of 9.35% and a negative net margin of 4.89%. Sell-side analysts predict that Truist Financial Co. will post 3.7 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.36%. The ex-dividend date is Friday, November 8th. Truist Financial’s dividend payout ratio (DPR) is presently -145.45%.

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.