Healthcare of Ontario Pension Plan Trust Fund Grows Stock Holdings in Truist Financial Corporation $TFC

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Truist Financial Corporation (NYSE:TFC) by 102.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,703,571 shares of the insurance provider’s stock after purchasing an additional 862,527 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.13% of Truist Financial worth $83,833,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in TFC. Wellington Management Group LLP lifted its holdings in shares of Truist Financial by 13,511.7% during the third quarter. Wellington Management Group LLP now owns 10,386,831 shares of the insurance provider’s stock valued at $474,886,000 after purchasing an additional 10,310,523 shares during the last quarter. Norges Bank purchased a new position in shares of Truist Financial during the fourth quarter valued at approximately $502,340,000. American Assets Investment Management LLC lifted its holdings in shares of Truist Financial by 781.3% during the fourth quarter. American Assets Investment Management LLC now owns 3,384,000 shares of the insurance provider’s stock valued at $166,527,000 after purchasing an additional 3,000,000 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Truist Financial by 37.6% during the fourth quarter. Bank of New York Mellon Corp now owns 10,500,542 shares of the insurance provider’s stock valued at $516,732,000 after purchasing an additional 2,867,449 shares during the last quarter. Finally, Azora Capital LP purchased a new position in shares of Truist Financial during the third quarter valued at approximately $115,417,000. 71.28% of the stock is currently owned by hedge funds and other institutional investors.

Truist Financial Price Performance

Shares of TFC opened at $51.63 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. Truist Financial Corporation has a twelve month low of $38.83 and a twelve month high of $56.19. The company has a market capitalization of $64.33 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 0.88 and a beta of 0.89. The firm has a 50 day moving average of $49.10 and a 200 day moving average of $49.18.

Truist Financial (NYSE:TFC) last posted its earnings results on Friday, April 17th. The insurance provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. Truist Financial had a net margin of 18.14% and a return on equity of 9.55%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.18 billion. During the same quarter in the previous year, the firm posted $0.87 EPS. The firm’s revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts anticipate that Truist Financial Corporation will post 4.52 earnings per share for the current fiscal year.

Truist Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Friday, May 8th. Truist Financial’s payout ratio is 51.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada raised their price target on shares of Truist Financial from $51.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Robert W. Baird downgraded shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $55.00 price target for the company. in a research report on Friday, May 1st. Weiss Ratings raised shares of Truist Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 1st. Morgan Stanley reduced their price target on shares of Truist Financial from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, April 20th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Truist Financial from $57.00 to $51.50 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $55.59.

Truist Financial Company 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.