Northwestern Mutual Wealth Management Co. Buys 7,442 Shares of BB&T Corporation (BBT)

Northwestern Mutual Wealth Management Co. lifted its stake in BB&T Corporation (NYSE:BBT) by 29.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,750 shares of the insurance provider’s stock after purchasing an additional 7,442 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in BB&T Corporation were worth $1,487,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in BBT. Waldron LP boosted its holdings in shares of BB&T Corporation by 152.5% in the 1st quarter. Waldron LP now owns 17,170 shares of the insurance provider’s stock worth $689,000 after purchasing an additional 10,370 shares during the period. Canal Capital Management LLC boosted its holdings in shares of BB&T Corporation by 3.2% in the 1st quarter. Canal Capital Management LLC now owns 7,784 shares of the insurance provider’s stock worth $348,000 after purchasing an additional 243 shares during the period. Cookson Peirce & Co. Inc. boosted its holdings in shares of BB&T Corporation by 1.1% in the 1st quarter. Cookson Peirce & Co. Inc. now owns 7,470 shares of the insurance provider’s stock worth $334,000 after purchasing an additional 80 shares during the period. Advisor Partners LLC boosted its holdings in shares of BB&T Corporation by 18.0% in the 1st quarter. Advisor Partners LLC now owns 12,071 shares of the insurance provider’s stock worth $540,000 after purchasing an additional 1,842 shares during the period. Finally, Advisory Services Network LLC purchased a new position in shares of BB&T Corporation in the 1st quarter worth approximately $1,613,000. Hedge funds and other institutional investors own 64.30% of the company’s stock.

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In other news, insider David Hudson Weaver sold 8,752 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $46.91, for a total transaction of $410,556.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $47.19, for a total value of $865,606.17. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,610 shares of company stock valued at $2,618,364. Company insiders own 0.36% of the company’s stock.

A number of brokerages have recently commented on BBT. BMO Capital Markets reiterated a “hold” rating and issued a $49.00 target price on shares of BB&T Corporation in a report on Friday, July 21st. BidaskClub upgraded BB&T Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Hilliard Lyons cut BB&T Corporation from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a report on Friday, July 21st. Wells Fargo & Company began coverage on BB&T Corporation in a report on Wednesday, August 9th. They issued a “market perform” rating and a $44.00 target price for the company. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $49.00 target price on shares of BB&T Corporation in a report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.06.

Shares of BB&T Corporation (NYSE BBT) opened at 44.61 on Tuesday. The firm’s 50-day moving average price is $46.56 and its 200-day moving average price is $45.03. BB&T Corporation has a 12 month low of $36.80 and a 12 month high of $49.88. The company has a market capitalization of $36.05 billion, a price-to-earnings ratio of 16.65 and a beta of 1.08.

BB&T Corporation (NYSE:BBT) last released its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. BB&T Corporation had a return on equity of 9.62% and a net margin of 19.57%. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same period last year, the business posted $0.71 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Equities research analysts expect that BB&T Corporation will post $2.84 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were given a dividend of $0.33 per share. This is a positive change from BB&T Corporation’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Wednesday, August 9th. BB&T Corporation’s dividend payout ratio (DPR) is currently 49.25%.

BB&T Corporation announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $1.88 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 5.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

About BB&T Corporation

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.

Institutional Ownership by Quarter for BB&T Corporation (NYSE:BBT)

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