Pacer Advisors Inc. boosted its holdings in shares of BB&T Co. (NYSE:BBT) by 10.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 80,718 shares of the insurance provider’s stock after acquiring an additional 7,851 shares during the period. Pacer Advisors Inc.’s holdings in BB&T were worth $4,308,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in BBT. Nuveen Asset Management LLC grew its holdings in BB&T by 16,903.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,602,446 shares of the insurance provider’s stock worth $176,988,000 after acquiring an additional 3,581,260 shares during the period. Boston Partners grew its holdings in BB&T by 22.8% during the 2nd quarter. Boston Partners now owns 7,046,122 shares of the insurance provider’s stock worth $346,224,000 after acquiring an additional 1,308,268 shares during the period. Bank of America Corp DE grew its holdings in BB&T by 6.8% during the 2nd quarter. Bank of America Corp DE now owns 18,849,552 shares of the insurance provider’s stock worth $926,077,000 after acquiring an additional 1,203,362 shares during the period. Vanguard Group Inc. grew its holdings in BB&T by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 61,197,584 shares of the insurance provider’s stock worth $3,006,637,000 after acquiring an additional 1,125,819 shares during the period. Finally, Bahl & Gaynor Inc. boosted its position in shares of BB&T by 19.5% during the second quarter. Bahl & Gaynor Inc. now owns 6,867,670 shares of the insurance provider’s stock worth $337,408,000 after purchasing an additional 1,121,533 shares in the last quarter. 70.16% of the stock is owned by hedge funds and other institutional investors.
In related news, Director K. David Jr. Boyer sold 4,285 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $52.64, for a total value of $225,562.40. The sale was disclosed in a document filed 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 transaction of $1,116,505.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,099,147 shares of company stock worth $714,407,173. 0.49% of the stock is owned by company insiders.
BBT opened at $52.00 on Friday. The firm’s fifty day simple moving average is $50.39 and its 200 day simple moving average is $49.26. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.79. BB&T Co. has a 12 month low of $40.68 and a 12 month high of $53.90. The stock has a market capitalization of $39.07 billion, a P/E ratio of 12.84, a P/E/G ratio of 1.34 and a beta of 1.17.
BB&T (NYSE:BBT) last announced its quarterly earnings results on Thursday, July 18th. The insurance provider reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. BB&T had a net margin of 23.58% and a return on equity of 12.23%. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the prior year, the business earned $1.01 EPS. BB&T’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities research analysts predict that BB&T Co. will post 4.2 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 14th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.46%. This is a positive change from BB&T’s previous quarterly dividend of $0.41. BB&T’s dividend payout ratio is 44.44%.
A number of equities analysts have recently weighed in on BBT shares. Morgan Stanley set a $51.00 price target on shares of BB&T and gave the stock a “hold” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. reduced their price target on shares of BB&T from $51.50 to $50.50 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. ValuEngine cut shares of BB&T from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. UBS Group reduced their price target on shares of BB&T from $55.00 to $53.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, Wells Fargo & Co set a $55.00 price target on shares of BB&T and gave the stock a “buy” rating in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine 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 $54.27.
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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