BB&T Corporation (NYSE:BBT) Shares Sold by New England Research & Management Inc.

New England Research & Management Inc. cut its stake in shares of BB&T Corporation (NYSE:BBT) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,940 shares of the insurance provider’s stock after selling 650 shares during the period. BB&T Corporation comprises approximately 1.3% of New England Research & Management Inc.’s investment portfolio, making the stock its 15th largest position. New England Research & Management Inc.’s holdings in BB&T Corporation were worth $1,723,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of BBT. BlackRock Inc. increased its stake in shares of BB&T Corporation by 2,875.1% in the first quarter. BlackRock Inc. now owns 47,331,820 shares of the insurance provider’s stock valued at $2,115,732,000 after buying an additional 45,740,906 shares during the period. Vanguard Group Inc. increased its position in BB&T Corporation by 3.2% in the first quarter. Vanguard Group Inc. now owns 54,194,703 shares of the insurance provider’s stock worth $2,422,504,000 after buying an additional 1,656,297 shares during the last quarter. Janus Capital Management LLC increased its position in BB&T Corporation by 46.8% in the first quarter. Janus Capital Management LLC now owns 3,333,817 shares of the insurance provider’s stock worth $149,021,000 after buying an additional 1,062,590 shares during the last quarter. FMR LLC increased its position in BB&T Corporation by 214.8% in the first quarter. FMR LLC now owns 1,464,005 shares of the insurance provider’s stock worth $65,440,000 after buying an additional 998,898 shares during the last quarter. Finally, First Trust Advisors LP increased its position in BB&T Corporation by 143.2% in the first quarter. First Trust Advisors LP now owns 1,642,161 shares of the insurance provider’s stock worth $73,405,000 after buying an additional 966,962 shares during the last quarter. Hedge funds and other institutional investors own 64.46% of the company’s stock.

BB&T Corporation (NYSE:BBT) traded down 0.09% during trading on Friday, reaching $46.12. The company’s stock had a trading volume of 4,394,869 shares. The firm has a 50-day moving average price of $46.45 and a 200-day moving average price of $45.21. The firm has a market capitalization of $37.27 billion, a P/E ratio of 17.22 and a beta of 1.07. BB&T Corporation has a 52 week low of $36.75 and a 52 week high of $49.88.

BB&T Corporation (NYSE:BBT) last announced its earnings results on Thursday, July 20th. The insurance provider reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.89 billion. BB&T Corporation had a net margin of 19.57% and a return on equity of 9.62%. BB&T Corporation’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.71 EPS. On average, equities analysts anticipate that BB&T Corporation will post $2.84 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be issued a dividend of $0.33 per share. This is an increase from BB&T Corporation’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.32 annualized dividend and a dividend yield of 2.86%. BB&T Corporation’s payout ratio is presently 49.25%.

BB&T Corporation announced that its board has initiated a share buyback plan on Wednesday, June 28th that allows the company to repurchase $1.88 billion in shares. This repurchase authorization allows the insurance provider to buy up to 5.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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A number of research firms have recently commented on BBT. BMO Capital Markets reiterated a “hold” rating and issued a $48.00 price objective on shares of BB&T Corporation in a report on Friday, June 30th. BidaskClub raised BB&T Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. 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 research report on Friday, July 21st. Macquarie raised BB&T Corporation from an “underperform” rating to a “neutral” rating and set a $47.00 target price for the company in a research report on Friday, August 4th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $49.00 price objective on shares of BB&T Corporation in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $47.19.

In other BB&T Corporation news, EVP William Rufus Yates sold 28,515 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $47.07, for a total value of $1,342,201.05. Following the completion of the sale, the executive vice president now owns 34,887 shares of the company’s stock, valued at approximately $1,642,131.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Jerome Johnson, Jr. sold 18,343 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $47.19, for a total transaction of $865,606.17. The disclosure for this sale can be found here. Insiders have sold a total of 55,610 shares of company stock valued at $2,618,364 in the last ninety days. 0.36% of the stock is currently owned by insiders.

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.

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

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