Standard Life Aberdeen plc decreased its position in BB&T Co. (NYSE:BBT) by 84.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 793,447 shares of the insurance provider’s stock after selling 4,382,777 shares during the period. Standard Life Aberdeen plc’s holdings in BB&T were worth $39,451,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BBT. Fox Run Management L.L.C. acquired a new stake in shares of BB&T in the 3rd quarter valued at about $451,000. Xact Kapitalforvaltning AB raised its stake in shares of BB&T by 4.6% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 81,295 shares of the insurance provider’s stock valued at $3,816,000 after purchasing an additional 3,548 shares during the period. TIAA FSB raised its stake in shares of BB&T by 9.0% in the 3rd quarter. TIAA FSB now owns 28,891 shares of the insurance provider’s stock valued at $1,356,000 after purchasing an additional 2,383 shares during the period. Clear Harbor Asset Management LLC acquired a new stake in shares of BB&T in the 3rd quarter valued at about $270,000. Finally, Aperio Group LLC raised its stake in shares of BB&T by 6.8% in the 3rd quarter. Aperio Group LLC now owns 383,977 shares of the insurance provider’s stock valued at $18,024,000 after purchasing an additional 24,388 shares during the period. 65.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BB&T Co. (BBT) opened at $55.36 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a market capitalization of $43,086.25, a P/E ratio of 17.63, a P/E/G ratio of 1.29 and a beta of 1.06. BB&T Co. has a 12 month low of $41.17 and a 12 month high of $55.99.
BB&T (NYSE:BBT) last issued its quarterly earnings results on Thursday, January 18th. The insurance provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.04. The business had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.86 billion. BB&T had a return on equity of 9.93% and a net margin of 19.25%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 earnings per share. research analysts predict that BB&T Co. will post 3.9 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 9th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, February 8th. BB&T’s dividend payout ratio (DPR) is currently 48.18%.
A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on BB&T from $48.50 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, November 1st. Zacks Investment Research downgraded BB&T from a “hold” rating to a “sell” rating in a research report on Friday, November 3rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $50.00 target price on shares of BB&T in a research report on Thursday, December 14th. Wells Fargo & Co set a $51.00 target price on BB&T and gave the company a “hold” rating in a research report on Wednesday, December 20th. Finally, Barclays lifted their target price on BB&T from $51.00 to $57.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Fifteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $53.52.
In related news, insider Clarke R. Starnes III sold 22,629 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $55.40, for a total value of $1,253,646.60. Following the completion of the sale, the insider now directly owns 107,933 shares in the company, valued at $5,979,488.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Christopher L. Henson sold 48,524 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $54.75, for a total value of $2,656,689.00. Following the completion of the sale, the insider now owns 180,089 shares of the company’s stock, valued at $9,859,872.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 178,052 shares of company stock valued at $9,665,543. 0.36% of the stock is currently owned by corporate insiders.
TRADEMARK VIOLATION NOTICE: This article was first published by Transcript Daily and is owned by of Transcript Daily. If you are reading this article on another website, it was stolen and reposted in violation of United States & international copyright legislation. The correct version of this article can be read at https://transcriptdaily.com/2018/02/25/standard-life-aberdeen-plc-sells-4382777-shares-of-bbt-co-bbt.html.
BB&T Corporation is a financial holding company. The Company conducts its business operations primarily through its bank subsidiary, Branch Banking and Trust Company (Branch Bank), and other nonbank subsidiaries. Its segments include Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Holdings and Financial Services.
Want to see what other hedge funds are holding BBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BB&T Co. (NYSE:BBT).
Receive News & Ratings for BB&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BB&T and related companies with MarketBeat.com's FREE daily email newsletter.