Sei Investments Co. lifted its stake in shares of BB&T Corporation (NYSE:BBT) by 15.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 610,674 shares of the insurance provider’s stock after purchasing an additional 80,506 shares during the quarter. Sei Investments Co. owned about 0.08% of BB&T Corporation worth $28,825,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Archford Capital Strategies LLC raised its stake in shares of BB&T Corporation by 199.9% during the second quarter. Archford Capital Strategies LLC now owns 2,249 shares of the insurance provider’s stock worth $191,000 after purchasing an additional 1,499 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in shares of BB&T Corporation during the second quarter worth approximately $111,000. Community Bank N.A. raised its stake in shares of BB&T Corporation by 6.2% during the second quarter. Community Bank N.A. now owns 2,474 shares of the insurance provider’s stock worth $112,000 after purchasing an additional 144 shares during the last quarter. Liberty Capital Management Inc. purchased a new stake in shares of BB&T Corporation during the second quarter worth approximately $136,000. Finally, Highstreet Asset Management Inc. raised its stake in shares of BB&T Corporation by 105.3% during the third quarter. Highstreet Asset Management Inc. now owns 3,053 shares of the insurance provider’s stock worth $143,000 after purchasing an additional 1,566 shares during the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.
In related news, Chairman Kelly S. King sold 66,372 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $47.53, for a total transaction of $3,154,661.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donna C. Goodrich sold 26,869 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $49.13, for a total value of $1,320,073.97. Following the sale, the insider now directly owns 78,589 shares in the company, valued at approximately $3,861,077.57. The disclosure for this sale can be found here. Insiders sold 180,103 shares of company stock worth $8,618,346 in the last three months. 0.36% of the stock is owned by corporate insiders.
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BBT has been the subject of several analyst reports. Zacks Investment Research cut BB&T Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Morgan Stanley upped their price target on BB&T Corporation from $47.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, October 20th. BMO Capital Markets upped their price target on BB&T Corporation from $48.00 to $49.00 and gave the stock a “market perform” rating in a research note on Friday, October 20th. Robert W. Baird restated a “hold” rating and set a $45.00 price target on shares of BB&T Corporation in a research note on Friday, August 25th. Finally, Macquarie upgraded BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 price target for the company in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $49.17.
BB&T Corporation (BBT) traded down $0.62 during trading on Friday, reaching $46.13. The company’s stock had a trading volume of 7,960,200 shares, compared to its average volume of 4,811,531. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market capitalization of $36,392.93, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 2.12 and a beta of 1.00. BB&T Corporation has a 12 month low of $41.17 and a 12 month high of $49.91.
BB&T Corporation (NYSE:BBT) last posted its earnings results on Thursday, October 19th. The insurance provider reported $0.78 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.78. The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.85 billion. BB&T Corporation had a return on equity of 9.64% and a net margin of 19.42%. BB&T Corporation’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.76 earnings per share. equities research analysts anticipate that BB&T Corporation will post 3.1 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.86%. The ex-dividend date is Thursday, November 9th. BB&T Corporation’s dividend payout ratio (DPR) is 49.07%.
BB&T Corporation Company Profile
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.
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