Sumitomo Life Insurance Co. lowered its holdings in shares of BB&T Co. (NYSE:BBT) by 17.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,163 shares of the insurance provider’s stock after selling 9,054 shares during the period. Sumitomo Life Insurance Co.’s holdings in BB&T were worth $2,071,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in BBT. BlackRock Inc. grew its holdings in shares of BB&T by 10.7% during the first quarter. BlackRock Inc. now owns 59,338,587 shares of the insurance provider’s stock valued at $2,761,026,000 after buying an additional 5,759,090 shares in the last quarter. Northern Trust Corp grew its holdings in shares of BB&T by 1.5% during the first quarter. Northern Trust Corp now owns 11,293,602 shares of the insurance provider’s stock valued at $525,492,000 after buying an additional 163,933 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of BB&T by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 9,220,118 shares of the insurance provider’s stock valued at $398,655,000 after buying an additional 590,366 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of BB&T by 0.6% during the first quarter. American Century Companies Inc. now owns 9,180,892 shares of the insurance provider’s stock valued at $427,187,000 after buying an additional 55,869 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of BB&T by 59.9% during the first quarter. Boston Partners now owns 5,737,854 shares of the insurance provider’s stock valued at $266,982,000 after buying an additional 2,150,335 shares in the last quarter. 68.08% of the stock is currently owned by hedge funds and other institutional investors.
In other BB&T news, Director Louis B. Lynn sold 2,500 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $48.33, for a total value of $120,825.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David Hudson Weaver sold 21,705 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $51.44, for a total value of $1,116,505.20. The disclosure for this sale can be found here. Insiders sold 27,623 shares of company stock worth $1,405,359 in the last 90 days. Corporate insiders own 0.49% of the company’s stock.
A number of research analysts have recently weighed in on the company. Deutsche Bank set a $59.00 price target on BB&T and gave the company a “buy” rating in a report on Friday, July 26th. UBS Group lowered their price target on BB&T from $55.00 to $53.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. JPMorgan Chase & Co. lowered their price target on BB&T from $51.50 to $50.50 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Morgan Stanley lowered their price target on BB&T from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Monday, April 22nd. Finally, ValuEngine upgraded BB&T from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $54.04.
NYSE BBT traded down $1.60 on Wednesday, reaching $46.17. The stock had a trading volume of 2,400,856 shares, compared to its average volume of 4,536,003. The firm has a 50 day simple moving average of $49.78. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.88 and a quick ratio of 0.87. BB&T Co. has a 1 year low of $40.68 and a 1 year high of $53.08. The company has a market capitalization of $37.80 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 1.25 and a beta of 1.12.
BB&T (NYSE:BBT) last issued its earnings results on Thursday, July 18th. The insurance provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. BB&T had a return on equity of 12.23% and a net margin of 23.58%. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, research analysts forecast that BB&T Co. will post 4.23 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Wednesday, August 14th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $1.80 dividend on an annualized basis and a yield of 3.90%. BB&T’s dividend payout ratio (DPR) is currently 40.00%.
BB&T Corporation, a holding company, provides banking and trust services for small and mid-size businesses, public agencies, local governments, corporations, and individuals in the Southeastern and Mid-Atlantic United States. The company operates through four segments: Community Banking Retail and Consumer Finance, Community Banking Commercial, Insurance Holdings, and Financial Services and Commercial Finance.
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