First Trust Advisors LP Has $76.29 Million Holdings in BB&T Co. (BBT)

First Trust Advisors LP cut its holdings in BB&T Co. (NYSE:BBT) by 9.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,625,217 shares of the insurance provider’s stock after selling 161,095 shares during the quarter. First Trust Advisors LP owned 0.20% of BB&T Co. worth $76,288,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BBT. Glassman Wealth Services lifted its holdings in shares of BB&T Co. by 0.4% during the 2nd quarter. Glassman Wealth Services now owns 4,757 shares of the insurance provider’s stock valued at $216,000 after buying an additional 18 shares during the period. Guardian Life Insurance Co. of America lifted its holdings in shares of BB&T Co. by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 3,130 shares of the insurance provider’s stock valued at $140,000 after buying an additional 21 shares during the period. WMS Partners LLC lifted its holdings in shares of BB&T Co. by 0.8% during the 2nd quarter. WMS Partners LLC now owns 4,527 shares of the insurance provider’s stock valued at $206,000 after buying an additional 36 shares during the period. Canal Capital Management LLC lifted its holdings in shares of BB&T Co. by 0.6% during the 2nd quarter. Canal Capital Management LLC now owns 7,832 shares of the insurance provider’s stock valued at $356,000 after buying an additional 48 shares during the period. Finally, Sii Investments Inc. WI lifted its holdings in shares of BB&T Co. by 0.9% during the 2nd quarter. Sii Investments Inc. WI now owns 6,636 shares of the insurance provider’s stock valued at $301,000 after buying an additional 58 shares during the period. 65.77% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Christopher L. Henson sold 42,233 shares of the firm’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $47.56, for a total transaction of $2,008,601.48. Following the completion of the transaction, the insider now owns 207,620 shares in the company, valued at $9,874,407.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Kelly S. King sold 66,372 shares of the stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $47.53, for a total transaction of $3,154,661.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,103 shares of company stock valued at $8,618,346. Company insiders own 0.36% of the company’s stock.

Several research firms have recently weighed in on BBT. Zacks Investment Research cut BB&T Co. from a “hold” rating to a “sell” rating in a report on Friday, November 3rd. J P Morgan Chase & Co increased their price target on BB&T Co. from $48.50 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, November 1st. Piper Jaffray Companies reissued a “hold” rating and set a $48.00 price target on shares of BB&T Co. in a report on Sunday, October 22nd. Royal Bank of Canada reissued a “buy” rating and set a $50.00 price target on shares of BB&T Co. in a report on Friday, October 20th. Finally, BMO Capital Markets increased their price target on BB&T Co. from $48.00 to $49.00 and gave the company a “market perform” rating in a report on Friday, October 20th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company. BB&T Co. has a consensus rating of “Hold” and a consensus target price of $49.17.

Shares of BB&T Co. (BBT) traded down $0.62 during mid-day 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 4,276,338. BB&T Co. has a 1-year low of $41.17 and a 1-year high of $49.91. 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 stock has a market cap of $36,882.06, a price-to-earnings ratio of 15.43, a PEG ratio of 2.15 and a beta of 1.00.

BB&T Co. (NYSE:BBT) last issued its quarterly earnings results on Thursday, October 19th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.78. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.85 billion. BB&T Co. had a return on equity of 8.87% and a net margin of 23.04%. BB&T Co.’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 EPS. equities analysts anticipate that BB&T Co. will post 3.1 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.86%. BB&T Co.’s payout ratio is 49.07%.

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About BB&T Co.

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 Co. (NYSE:BBT)

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