Healthcare of Ontario Pension Plan Trust Fund raised its position in Truist Financial Co. (NYSE:TFC – Free Report) by 1,155.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,054,500 shares of the insurance provider’s stock after buying an additional 970,500 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.08% of Truist Financial worth $30,169,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of TFC. Fairfield Bush & CO. acquired a new stake in Truist Financial in the 1st quarter worth about $25,000. United Bank boosted its holdings in Truist Financial by 4.1% in the 1st quarter. United Bank now owns 74,457 shares of the insurance provider’s stock worth $4,222,000 after buying an additional 2,938 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in Truist Financial by 33.3% in the 1st quarter. Panagora Asset Management Inc. now owns 26,365 shares of the insurance provider’s stock worth $1,495,000 after buying an additional 6,593 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in Truist Financial by 3.3% in the 1st quarter. Vontobel Holding Ltd. now owns 22,951 shares of the insurance provider’s stock worth $1,348,000 after buying an additional 738 shares during the last quarter. Finally, Blair William & Co. IL lifted its stake in Truist Financial by 8.1% in the 1st quarter. Blair William & Co. IL now owns 56,690 shares of the insurance provider’s stock worth $3,214,000 after purchasing an additional 4,234 shares in the last quarter. 71.11% of the stock is currently owned by institutional investors and hedge funds.
Truist Financial Stock Down 0.7 %
Shares of NYSE:TFC traded down $0.26 during trading on Tuesday, hitting $35.84. The company’s stock had a trading volume of 7,089,088 shares, compared to its average volume of 10,065,410. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.82. The business has a 50 day moving average price of $36.70 and a two-hundred day moving average price of $32.28. The company has a market capitalization of $47.80 billion, a PE ratio of -33.16, a P/E/G ratio of 1.52 and a beta of 1.09. Truist Financial Co. has a fifty-two week low of $25.56 and a fifty-two week high of $48.19.
Truist Financial (NYSE:TFC – Get Free Report) last issued its earnings results on Thursday, January 18th. The insurance provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same quarter in the previous year, the firm posted $1.30 earnings per share. As a group, research analysts expect that Truist Financial Co. will post 3.39 EPS for the current fiscal year.
Truist Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 9th will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.80%. Truist Financial’s payout ratio is currently -192.59%.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of Truist Financial from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. UBS Group raised their target price on shares of Truist Financial from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Odeon Capital Group raised shares of Truist Financial from a “hold” rating to a “buy” rating and set a $40.45 target price on the stock in a research note on Thursday, December 14th. Piper Sandler raised their target price on shares of Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. Finally, TheStreet raised shares of Truist Financial from a “c+” rating to a “b-” rating in a research report on Tuesday, January 9th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.87.
Check Out Our Latest Stock Report on TFC
Truist Financial Company Profile
Truist Financial Corporation, a holding 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.
Further Reading
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