Canada Post Corp Registered Pension Plan Has $3.60 Million Holdings in Truist Financial Corporation $TFC

Canada Post Corp Registered Pension Plan cut its position in shares of Truist Financial Corporation (NYSE:TFC) by 18.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,161 shares of the insurance provider’s stock after selling 15,876 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in Truist Financial were worth $3,595,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TFC. Vanguard Group Inc. raised its holdings in shares of Truist Financial by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 119,740,969 shares of the insurance provider’s stock valued at $5,892,453,000 after acquiring an additional 701,049 shares during the period. Capital International Investors boosted its stake in Truist Financial by 0.7% in the 4th quarter. Capital International Investors now owns 108,358,164 shares of the insurance provider’s stock worth $5,332,835,000 after purchasing an additional 715,433 shares during the period. Victory Capital Management Inc. boosted its stake in Truist Financial by 7.5% in the 4th quarter. Victory Capital Management Inc. now owns 31,964,393 shares of the insurance provider’s stock worth $1,572,968,000 after purchasing an additional 2,226,288 shares during the period. Morgan Stanley grew its position in Truist Financial by 2.9% during the 4th quarter. Morgan Stanley now owns 20,931,279 shares of the insurance provider’s stock worth $1,030,028,000 after purchasing an additional 597,255 shares in the last quarter. Finally, Auto Owners Insurance Co grew its position in Truist Financial by 4,821.0% during the 4th quarter. Auto Owners Insurance Co now owns 14,172,480 shares of the insurance provider’s stock worth $697,428,000 after purchasing an additional 13,884,480 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Truist Financial news, insider Donta L. Wilson sold 13,280 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $51.85, for a total value of $688,568.00. Following the transaction, the insider directly owned 56,009 shares of the company’s stock, valued at $2,904,066.65. This represents a 19.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director K. David Jr. Boyer sold 3,986 shares of the company’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $50.70, for a total value of $202,090.20. Following the completion of the transaction, the director directly owned 10,270 shares in the company, valued at approximately $520,689. The trade was a 27.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 30,516 shares of company stock worth $1,584,428. Corporate insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

TFC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on Truist Financial from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Monday, July 20th. Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Robert W. Baird lifted their price target on Truist Financial from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Royal Bank Of Canada upped their price target on Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Truist Financial in a research note on Wednesday, July 29th. Seven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $54.67.

Truist Financial Stock Up 0.7%

Truist Financial stock opened at $53.02 on Friday. The firm has a market cap of $64.77 billion, a PE ratio of 12.16, a P/E/G ratio of 1.11 and a beta of 0.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s 50 day moving average price is $51.06 and its two-hundred day moving average price is $49.78. Truist Financial Corporation has a twelve month low of $40.78 and a twelve month high of $56.19.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.15. The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.24 billion. Truist Financial had a net margin of 19.13% and a return on equity of 10.06%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 EPS. On average, research analysts predict that Truist Financial Corporation will post 4.58 EPS for the current fiscal year.

Truist Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, August 14th. Truist Financial’s dividend payout ratio (DPR) is currently 47.71%.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.