Healthcare of Ontario Pension Plan Trust Fund Sells 82,000 Shares of Truist Financial Co. (NYSE:TFC)

Healthcare of Ontario Pension Plan Trust Fund trimmed its stake in shares of Truist Financial Co. (NYSE:TFC) by 19.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. 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 SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. M&G Plc bought a new position in Truist Financial in the 2nd quarter worth about $2,804,000. Dimensional Fund Advisors LP increased its stake in Truist Financial by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,932,261 shares of the insurance provider’s stock worth $346,957,000 after acquiring an additional 299,196 shares during the last quarter. Boston Common Asset Management LLC increased its stake in Truist Financial by 66.4% in the 3rd quarter. Boston Common Asset Management LLC now owns 154,523 shares of the insurance provider’s stock worth $6,609,000 after acquiring an additional 61,683 shares during the last quarter. Independent Advisor Alliance increased its stake in Truist Financial by 10.7% in the 3rd quarter. Independent Advisor Alliance now owns 282,607 shares of the insurance provider’s stock worth $12,087,000 after acquiring an additional 27,408 shares during the last quarter. Finally, PGGM Investments bought a new position in Truist Financial in the 1st quarter worth about $611,000. 71.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TFC has been the topic of a number of research analyst reports. Citigroup upped their target price on Truist Financial from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday. Wolfe Research upgraded Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Royal Bank of Canada increased their price objective on Truist Financial from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. increased their price objective on Truist Financial from $43.50 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Finally, Compass Point increased their price objective on Truist Financial from $46.00 to $47.00 in a research report on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Truist Financial currently has an average rating of “Hold” and a consensus price target of $47.17.

Truist Financial Stock Performance

NYSE TFC opened at $47.75 on Friday. Truist Financial Co. has a fifty-two week low of $31.23 and a fifty-two week high of $49.06. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.62. The stock has a 50 day simple moving average of $44.13 and a two-hundred day simple moving average of $41.75.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Thursday, October 17th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.08. The firm 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%. Research analysts forecast that Truist Financial Co. will post 3.7 earnings per share for the current year.

Truist Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.36%. Truist Financial’s dividend payout ratio (DPR) is currently -145.45%.

Insider Transactions at Truist Financial

In other news, CEO William H. Rogers, Jr. purchased 34,180 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were purchased at an average cost of $48.56 per share, for a total transaction of $1,659,780.80. Following the purchase, the chief executive officer now directly owns 691,451 shares in the company, valued at approximately $33,576,860.56. This represents a 5.20 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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.